Often gain equity. However, they can also lose it. Their equity can also remain static. Must go through the process of selling their homes and finding a buyer, either with a Realtor's help or not, if they elect to move out of their homes. Are subject to variable costs in the absence of documentation that keeps costs fixed.
Buyers are fully responsible for any and all repairs.
Are free to paint, redecorate and remodel their homes as often as they wish. Enjoy the tax breaks and other tax advantages associated with homeownership. Build equity regardless of whether the value of their homes increases over time. Eventually own their homes and are free of a monthly mortgage payment. The multifamily housing market has exploded nationwide during the last decade, offering renters more advantages and more amenities and more flexibility in housing styles than ever before.