comparing renting and buying. main advantages of renting your home ease of mobility ease of mobility...

Comparing Comparing Renting and Renting and

BuyingBuying

Main advantages of renting Main advantages of renting your homeyour home

Ease of mobilityEase of mobility

Fewer responsibilitiesFewer responsibilities

Lower initial costsLower initial costs

Common disadvantages of Common disadvantages of renting your housingrenting your housing

No chance to build equityNo chance to build equity

Restricted lifestyle, decorating, Restricted lifestyle, decorating, having pets, and other activitieshaving pets, and other activities

Legal concernsLegal concerns

Benefits of buying your Benefits of buying your housinghousing

Investment and building equityInvestment and building equity

Pride of ownershipPride of ownership

Flexibility in using the propertyFlexibility in using the property

Disadvantages of buying Disadvantages of buying your housingyour housing

Financial risks related to Financial risks related to having down payment having down payment funds, obtaining a funds, obtaining a mortgage, and fluctuating mortgage, and fluctuating property valuesproperty values

Limited mobility if a home Limited mobility if a home is difficult to sellis difficult to sell

Higher living costs due to Higher living costs due to repairs and maintenancerepairs and maintenance

RENTRENT, , BUYBUY, or , or DEPENDS?DEPENDS?

Jasmine, age 22, plans to work full Jasmine, age 22, plans to work full time while completing her college time while completing her college degree in a nearby city.degree in a nearby city.

RENT BUY DEPENDSRENT BUY DEPENDS


Jasmine, age 22, plans to work full Jasmine, age 22, plans to work full time while completing her college time while completing her college degree in a nearby city.degree in a nearby city.

RENTRENT BUY DEPENDS BUY DEPENDS


Harry, age 44, travels out of town Harry, age 44, travels out of town frequently for his sales job. His frequently for his sales job. His company may transfer him to company may transfer him to another sales territory within a year another sales territory within a year or two.or two.



Gino, age 32, recently completed his Gino, age 32, recently completed his master’s degree in business while master’s degree in business while working at the same company for working at the same company for the past six years. He has also been the past six years. He has also been able to save nearly $8,000 over this able to save nearly $8,000 over this time period.time period.



Gino, age 32, recently completed his Gino, age 32, recently completed his master’s degree in business while master’s degree in business while working at the same company for working at the same company for the past six years. He has also been the past six years. He has also been able to save nearly $8,000 over this able to save nearly $8,000 over this time period.time period.

RENT RENT BUYBUY DEPENDS DEPENDS


Chelsea, age 19, has just taken her Chelsea, age 19, has just taken her first job as a sales representative first job as a sales representative trainee for a computer software trainee for a computer software company.company.



Karen and Vincent, ages 54 and 57, Karen and Vincent, ages 54 and 57, are planning to retire within the next are planning to retire within the next few years.few years.



Karen and Vincent, ages 54 and 57, Karen and Vincent, ages 54 and 57, are planning to retire within the next are planning to retire within the next few years.few years.

RENT BUY RENT BUY DEPENDSDEPENDS

comparing renting and buying. main advantages of renting your home ease of mobility ease of mobility...

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