Deciding whether to rent or buy is a big financial decision that many of us need to make at some point in our life. We broke down the comparison between renting and buying into 3 categories: Freedom, Investment, and Stability. Lets compare…

Freedom

Rent
• Landlord restrictions
• Don’t have to maintain
• NO pets allowed

Buy
• No landlord
• Need to Maintain
• Can have pets
• Can make the changes you want

BONUS: Buy a new home and maintenance may be low since there will be no old appliances to fix

Investment

Rent
• As much as 40% of your income is going to your landlord

Buy
• Appreciating value increases wealth
• Capital from home equity
• Take a tax deduction on your mortgage

Stability

Rent
• Never feel fully settled
• Can be short-term residence

Buy
• Be a part of the community
• Often times long-term residence

If you have any questions or would like to get pre-approved for a home loan, please reach out. We look forward to working with you! https://www.uptownfinancial.com/get-started/

Terms may not be available for every borrower as terms are based on several factors including, but not limited to: credit history, FICO score, stability of income and borrower assets. All borrowers are subject to underwriting review. This is not an offer to enter into a rate lock pursuant to MN Statue 47.206. This is not to be construed as a mortgage loan approval. Terms are subject to change without notice. Contact an American Mortgage & Equity Consultants, Inc. representative for additional information. Company NMLS # 150953, Equal Housing Lender.