Rent Vs. Buy – Can I Lower My Payment By Buying Instead Of Renting?

What are the advantages to rent vs. buy and which is a better option? Renters often struggle with this decision as they decide which option is better for the long term. Owning a home can be a long term investment. In addition to possibly building home equity, homeowners also get tax incentives that aren’t available to renters, though one should consult a tax advisor for case specific information. However, depending on how much is paid in rent, cost of inflation and the cost of buying a home – homeownership could make more financial sense … or maybe not.

So which is better? Ultimately, the answer depends on each individual person. Even if renting costs less in the long run, many people still choose to buy instead of rent. Despite the costs, many find pride of home ownership a priceless feeling.

Need Help Deciding Whether You Should Rent or Buy?

Countrywide’s experienced Home Loan Consultants are standing by to help you. Call us at 1-800-909-8217 for a FREE, no obligation loan consultation.