There are some significant benefits to buying a home over renting one. Here are the three biggest ones.
If you’re deciding whether you should buy or rent a home, there are a few things you need to know. First, if you rent for 10, 20, or even 30 years, you’ll end up throwing away a ton of money that you could have invested in a home purchase instead. Second, the government rewards homeowners by giving tax write-offs.
Finally, owning a home allows you to build equity by paying down your mortgage and you can turn that equity into cash later on. Renting doesn’t give you that opportunity.
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