Best answer

Building equity

People also ask

  • Is it cheaper to buy or rent a home?

  • A home is a major purchase and can be initially expensive, but if you consider the fees that come with renting, buying and owning a home will ultimately be cheaper. In a lot of cases, buying a home can be comparable in cost to renting, considering the rates.

  • What are the pros and cons of renting vs buying a house?

  • 1. It’s cheaper than renting. Although buying a house is more expensive at the outset, it can actually be cheaper than renting in the long term if you play your cards right. According to real estate website Trulia, homeownership is 38% cheaper on average than renting nationally, which is a 3% decrease from 2013.

  • Is it better to own or rent a house?

  • The study by researchers William M. Rohe and Leslie S. Stewart shows that homeowners usually have homes that are in better condition than rental properties.

  • Should you buy or rent your first home?

  • That means treating your home as an investment and caring for it accordingly, with regular maintenance and repairs. Buying also comes with pride of ownership and the freedom to make decisions about style and upgrades that you typically don’t have as a renter.