| Buying | Renting |
| Less freedom in moving | Flexibility, possibility of moving easily from place-to-place |
| Responsible for all improvements and repairs | Not responsible for major repairs |
| Possibility of using the property for an unlimited period | It allows renter to experience living in a residential area with no ties |
| Sense of ownership, stability and community | Lease renewals are up to the owner |
| Possible appreciation/gains, making home ownership an excellent investment | Money spent without building your own wealth |
| Freedom of renovating the property | Inability to modify the properties without the owner’s permission |
| Responsible for property taxes and condo fees | Not responsible for property taxes and condo fees |
| Possibility of paying property expenses with the rent | Possibility of annual rent increases |
| Possibility of deducting the condominium expenses and the property tax from taxation | Provides no tax benefits |
| Possibility of deducting mortgage loan interest in taxation | |
| Possibility of generating a monthly income through renting out houses or apartments |
Pros and Cons of Buying vs. Renting
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by Gernot Taschler - 2 years ago
- Buying, Renting, South Florida, South Florida
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