Renting is a great option if you plan to move around and don’t want to commit to one location because it provides more flexibility if you decide to relocate. Another benefit of renting is that maintenance costs for things like lawncare and broken appliances are usually covered by the homeowner. While renting is often thought of as more affordable than buying, this is not always the case. It may be a good option if you need some time to save up for a down payment and other costs associated with buying your own home but in some cases, your monthly mortgage can end up being less than your monthly rent!
Buying might be a better option for you if you plan on staying in one location for a few years. Homeownership gives you the opportunity to take pride in caring for the property you own. It allows you to build equity over the long term and has potential for tax advantages that don’t come with renting. Another benefit of buying is that you can customize your space the way you want to from paint colors to hanging curtains without worrying about discussing it with your landlord.