Advantages

Considerations

Buy

Property builds equity

Responsible for maintenance

Sense of community, stability, and security

Responsible for property taxes

Free to change decor and landscaping

Possibility of foreclosure and loss of equity

Not dependent on landlord to maintain property

Less mobility than renting

Rent

Little or no responsibility for maintenance

No tax benefits

Easier to move

No equity is built up

No control over rent increases

Possibility of eviction