Buying vs. Renting

Although there may be circumstances which require renting for a short time, long-term renting is costing potential homeowners millions of dollars each year. With mortgage rates hovering at historic lows and more, flexible financing options available, there is no good reason for long-term renters not to buy. If you can afford to rent, you can afford to buy a home.

Consider the chart below – not counting the equity you are likely to build over time, the tax savings available should be reason enough to make an investment in where you choose to live. If you are not paying your own mortgage, you are paying it for someone else when you choose to rent.  Like your savings and investments, make good choices so your money works for you.

BuyingVRentingIf you are throwing your money away by renting, can you afford NOT to buy?

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