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Upsides of renting:
You can move anytime you like (aside from the lease requirements for a year or 2)
You are normally not responsible for any maintenance
You don't pay property taxes.
Upsides of owning:
You get a tax credit for interest and taxes
You can modify and do what you want to your home (within reason)
After you pay it off, it's yours
Downsides of renting:
There are payments forever
Allowable modifications are normally minimal
Downsides of owning:
It costs a lot more up front
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∙ 11y ago
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