When deciding which is better to rent vs buy there is many different things to consider. Renting can be easier sometimes, but owning can have a number of distinct advantages.
Advantages of owning a home.
- Your home is a savings account.
- You build equity for yourself with every payment.
- You may have tax benefits from the mortgage interest paid- You must ask your account if possible for you.
- You can do what you want with the place.
- You wont be charged a late payment until the 15th of the month.
- You will eventually be able to sell your home for a profit or own your home outright