Reasons to Buy
Equity: Each time you make a payment, you're one step closer to paying off your home.
Tax Deductions: You can deduct mortgage interest and property taxes. Consult a tax advisor about your situation.
Control: When you own a home, you select your own contractor for repairs. You can also be more creative – you can paint the walls any color you would like and even add a room.
Value: Your home could increase in value, making it worth more than you paid for it.
Financial Predictability: Fixed-rate mortgages allow you to predict your monthly principal and interest payment, unlike monthly rent payments, which can increase over time.
See Associated Home Buying Fees
Reasons to Rent
Flexibility: Unsure of your career and income? Renting gives you time to figure things out without being tied to a mortgage.
No Maintenance: Pipe leaking? Don't worry about going to your local hardware store. Simply call the landlord to have it repaired.
Bad Credit: If you have bad credit, having a history of making on-time rental payments can help you qualify for a mortgage down the road.
Utilities included: Sometimes utilities like water, sewer, and garbage are all paid by the landlord when you rent.
Are You Better Off Renting?