Buying a home--it’s the American dream. But recent events have caused financial experts to push the advantages of renting over buying that home! Arguments include flexibility on leasing contracts, lower insurance rates, no property taxes, and elimination of maintenance and repairs. Of course, there are pros and cons for either side but here are 5 reasons for the purchase of your dreams.
- Roots –How long do you plan on being in the location? Is this where you plan to be in a few months or a few years? For short term living, renting is obviously the way to go but if you plan to stay put, a home will entrench you in the community. There’s nothing like settling down and stability. Long term residency will also convert that throwaway rent money into a