Choosing whether to go for buying Vs renting a house is a significant decision that affects your lifestyle as well as your financial situation. Real estate ownership is marketed as a long-term investment that would almost inevitably increase in value and have tax advantages. Whereas renting has its range of benefits, such as reduced liabilities. However, people believe that buying a home is a better choice.
Renters, compared to Homeowners, do not have to pay for maintenance or repairs, and they do not have to pay property taxes.
Whereas, when the value of your home rises, so does your equity, helping you to sell it for a profit. You might spend in a new home or an investment property with the extra cash benefiting Homeownership.