Rent vs. Buy


The rent you currently pay could be building equity in your own home.

The money spent on rent over a period of years adds up to a sizable sum. The chart below provides a complete total of how much of your money is wasted.

Rent

  • No interest payment deductions
  • Monthly rent may increase
  • Approval needed for any changes
  • No capitalization – your money disappears forever
  • Renting is temporary and subject to 30-60 days termination
  • Your landlord can terminate your tenancy after a fixed term

Buy

  • Tax deductions for mortgage interest
  • Payments can be fixed
  • Make changes without prior approval
  • The value of your property will probably increase
  • Home sweet home! Make your house a home, not a temporary living situation
  • You are in charge – Not your landlord