The Pros and Cons of Renting vs. Buying

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When it comes to looking for a place to live, there are many considerations, including things like location, home size, access to necessities like groceries and schools, and amenities like entertainment and shopping. The housing market is an especially tricky place right now, with prices up in most parts of the U.S., making it an expensive proposition to buy a home. However, rents are also up in most places, meaning that there’s no clear-cut answer for which one of these routes is more affordable or better for your budget.& Deciding whether to rent or buy is a complex decision with several factors at play. Find out the pros and cons of both buying and renting so that you can make the most informed decision. Home-Buying Pros Building Equity Owning a home is the best way to build equity—investing in a property with tangible value that you can hold or capitalize on as you see fit. Building equity is often considered the most basic way to build your wealth and opens the door to making more or more significant investments down the road. Generally, the overarching wisdom on this subject says that by owning a home, you’re investing in your assets...