Buy vs. Rent

Pros and Cons of Buying vs. Renting

Pros of Buying:

  • Building equity over time, making home ownership an excellent investment in the long run

  • Tax Benefits

  • Homestead Exemption

  • Federal Tax Deductions

  • Potential for Rental Income

  • Freedom of renovating the property

  • Possibility of using the property for an unlimited period

  • Sense of ownership, stability and community

Cons of Buying:

  • Less freedom in moving

  • Responsible for all improvements and repairs

  • Potential for financial loss

  • Responsible for property taxes, insurance and HOA

Pros of Renting:

  • Not responsible for major repairs

  • It allows renter to experience living in a residential area with no ties

  • Not responsible for property taxes, insurance and HOA

  • Flexibility, possibility of moving easily from place-to-place

Cons of Renting:

  • Lease renewals are up to the owner

  • Money spent without building your own wealth

  • Inability to modify the properties without the owner's consent

  • Risk of annual increases

  • No equity building

  • Limited control over housing costs

  • Provides no federal tax benefits or homestead exemption

#rent #buy

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Contact us:
Eduardo Sanchez P.A.
Real Estate Advisor
P: (786) 271-2161
A: 444 Brickell Ave Suite P-32 Miami Fl 33131
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