Is it better to rent or to buy?
Homeownership has always been considered the gateway to the middle class and a benchmark of the American Dream. However, many families have chosen to find domestic bliss without paying a mortgage in recent years. What they’re missing are the big benefits of homeownership that just can’t be replaced by renting.
Research shows that owning your own home has distinct advantages over renting, especially when it comes to building your net worth and providing a stable environment for your family.
If you rent, the only money you can expect to receive when you move out is your security deposit – and you’ll only get that back if you didn’t damage your apartment. When you buy a home, on the other hand, there is the potential to build equity so you can pocket a profit when you ultimately sell the house.