Buy vs. Rent Comparison Chart
|
Advantages |
Considerations |
| Buy |
Property builds equity |
Responsible for maintenance |
| Sense of community, stability, and security |
Responsible for property taxes |
| Free to change decor and landscaping |
Possibility of foreclosure and loss of equity |
| Not dependent on landlord to maintain property |
Less mobility than renting |
|
| Rent |
Little or no responsibility for maintenance |
No tax benefits |
| Easier to move |
No equity is built up |
| |
No control over rent increases |
| |
Possibility of eviction |
