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What are the advantages and disadvantages of owning vs renting a home?
This is for Culinary.

User Rawnewdlz
by
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1 Answer

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Homeownership advantages

Privacy

Usually a good investment


More stable housing costs from year to year


Pride in ownership and strong community ties


Tax incentives


Equity buildup (savings)


Disadvantages: home ownership

Long-term commitment


Maintenance and repair costs


Lack of flexibility


Usually more expensive than renting


High up-front costs


Foreclosure


Renting: advantages

Lower housing costs


Shorter-term commitment


No/minimal maintenance and repair costs

Renting:disadvantages

No tax incentives


No fixed housing costs


No building of equity

Hope this helps b <3

User Damodharan R
by
7.7k points

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