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Reasons to buy a home:
- An opportunity to build equity and increase your net worth
- Have greater control over your living space by making changes as you wish
- Potential for tax benefits
- Give your family a sense of stability and permanence
- In time you can generate rental income if you decide to move and rent out the property
Reasons to rent a home:
- Have the flexibility to move more easily
- No responsibility for maintenance and repairs
- You will have lower upfront costs.
- No risk of property value depreciation
- You can enjoy having access to amenities such as pools, gyms, and shared spaces without having to pay for them yourself.
