Here are some benefits of buying a home vs. renting one:
BUY
• Substantial tax breaks for homeowners
• Build equity to use towards a future home
• Unlimited decorative freedom
• Can create a rental income property in the future
• Stability- no landlord forcing you to move unexpectedly
RENT
• No tax benefits
• No equity built- rent money is not put to good use
• Limited decorative freedom
• Rent can increase
• Living situation can be temporary
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