Renting vs. Buying: Which is Better for Your Money?

Written By walagampalage minuri

Should you rent or buy a home? It depends on your personal financial goals. Here’s a breakdown

Renting Pros:

  • Flexibility to move

  • No big down payments

  • Lower upfront costs

Renting Cons:

  • No ownership or equity buildup

  • Rent can increase over time

Buying Pros:

  • Build equity

  • Fixed mortgage payments (in many cases)

  • Sense of stability

Buying Cons:

  • Large upfront costs (down payment, closing fees)

  • Maintenance costs are your responsibility

Key Tip: If you plan to stay in one location for more than 5 years, buying may be smarter financially. Otherwise, renting gives you freedom and flexibility.

walagampalage minuri
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