Comparison of renting versus buying
Owning Property - Key Advantages
Capital Growth - When you buy a
property, after you pay off the mortgage,
you own the property outright. The
opportunity to achieve a capital asset, is
for many home owners, the single most
important factor behind their decision to
buy their own property.
Assessing Cost - In the long term buying a property
will probably cost less than renting one. However, another
factor to take into account is the costs associated with
buying and reselling a property.
Renting - Key Advantages
Flexibility-
Most tenancies are six to twelve months in duration. At the
end of this period you can walk away without any further
cost or obligation.
Expenses
- Repairs and maintenance are usually the responsibility of
the landlord.
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