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Buying Versus Renting

Buying Versus Renting

The decision to buy or rent is the most important step in your relocation process. Purchasing a home is a long-term emotional and financial commitment, with various pros and cons to consider.

Buying a home can help build equity and allows you the freedom to design and decorate your property and landscaping. Tax benefits are another advantage. Disadvantages include taxes, fluctuating home values and property and landscaping maintenance.

Rental properties, on the other hand, often take care of landscaping and yard maintenance for you. Amenities, such as laundry rooms, exercise rooms and swimming pools vary from one rental complex to another. The main disadvantage to renting a property is the varying restrictions you may face. Some complexes may not allow pets or personal touches, such as painting.

Landlord and property managers also have the right to raise the rent (with proper notice).

To make the decision best for you, review your needs, wants and financial standing. Be sure to research all your housing options thoroughly.

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