The decision to rent versus buy can be difficult to make, particularly for those who live in more expensive or urban areas. With pros and cons to both, the following guide can help you determine whether it is better to continue renting or it’s time to buy.
- What can I afford?
- Do I want flexibility or stability?
- How long do I plan to stay here?
- Do I want to be responsible for repairs?
- What are my future goals?
The decision to buy versus rent is ultimate a personal choice. With no cut and dry answer, it’s important to consider a variety of pros and cons before determining what is right for you.