You are not alone in weighing this list of pros and cons. This is one of the top questions we hear as lenders. On one hand, renting generally allows maintenance free living and fixed monthly expenses—a plus for many people. On the other hand, home ownership provides an opportunity to build equity, take advantage of tax benefits, and make permanent improvements to your dwelling while gaining equity in your home for doing so. Consider that while there are many benefits of owning a home, homeowners are also responsible for repairs and upkeep.