This document compares the advantages and disadvantages of buying a home versus renting. Some key points are: - Buying a home allows for tax write-offs, building equity over time, and more control over payments, but requires responsibility for maintenance and waiting to sell. - Renting provides more flexibility to move and avoids costs of repairs/taxes, but rent payments do not build equity and rent amounts can increase. - Buying generally makes more financial sense when planning to live in a home for 6 years or more due to long-term savings, while renting is better for shorter-term living situations or those with unstable finances or credit.

1. Buying vs. Renting By: Samantha Nagrabski LaRae Morris Nathan Kay

2. Advantages of Buying Tax Write-off Upgrades to your home can be made as you see fit Equity is built as the value appreciates The control of Loan payment options A pride of homeownership

3. Disadvantages of Buying Responsibility for property maintenance Must wait for market conditions to be right before even selling, renting, or leasing property You must pay for all your own utilities, property taxes, and insurance Home improvements can run high in price

4. Advantages of Renting Landlord handles general repairs The freedom to move once your lease expires Place may already include utilities, property taxes and property insurance You're not financially responsible for improvements

5. Disadvantages of Renting No tax write-off Need permission to make any changes Your money goes towards the landlord's equity Rent can increase periodically You have no ownership

6. When to Buy Trulia’s Rent Versus Buying Index favors home buying over renting in 72% of the nation’s top cities...Including: Miami Las Vegas Phoenix San Antonio Atlanta Detroit

7. When to Rent Best advised for people: With a high debt ration (50% or more) That have jobs that are in jeopardy With bad credit (usually below 620) Who relocate frequently Not in a position to pay a higher mortgage When living in areas like Los Angeles or New York City

8. Overall If you stay in your home for 6 years, renting is better. If you plan to stay in a home for more time, buying is better. Buying allows more long-term benefits while renting is more of a short-time fix Buying saves money over the long-term since price declines over time