Home Sweet Home: Renting vs Buying: GUWellness: Mind, Body, Soul

Benefits of Owning a Home
✓ You build equity
✓ You can decorate and upgrade as desired
✓ There are often less “neighborly” annoyances
✓ You don’t have to answer to a landlord
✓ You have something to call your own

Benefits of Renting
✓ It’s easy to find a place you like
✓ You don’t have to pay for repairs
✓ The money you save can be invested in other interests
✓ Moving is more feasible (buying and selling a home costs big bucks)
✓ You may have access to facilities like a pool or gym that you wouldn’t
have with home ownership.

Above all, make sure you consider this decision very carefully. It’s wise to seek the advice of a lender and to talk with your loved ones about this decision as well. Since the correct decision is different for everyone, consider all the options, take your time, and make the decision that’s right for you. It could be a decision you’ll live with for a lifetime.

To view this article in full, and to access additional information on this topic, click here to view WELCOA's online financial bulletin:

http://infopoint.welcoa.org/bulletins/pdf/nd_0309_v10n05.pdf