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Buy vs. Rent

By ResidenceBuy India  |  0 comments   |  1342 views  |   Feb 23 2012

Before buying a house this is the most important choice you face. Depending on your circumstances either renting or buying may be the best choice for you. See our chart below for pros and cons for renting and buying. If you decide to buy then continue below.

  Renting Buying
Pros

  Move when you wish

  No initial capital requirement

  Protected frommarket downturn

  No maintenance worry

  No recurring fee(i.e. insurance)  

  Living your dream
 
  Build equity

  Capital gain in a rising housing market

  Tax benefits  

Cons

  Paid rent doesn't yield return

  Vulnerable to future rent increase

  Abide by landlord's policy  

  Down payment is a big financial outlay

   Less flexibility if you need to move fast

   Equity loss in a declining housing market


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