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Module 1.5. To Rent or Buy?. Renting makes sense if you… Move frequently or suddenly Need to determine long-term desirability Are low on cash Don ’ t have time/desire/funds for maintenance/improvements Don’t want to risk loss of equity Don’ t need/want tax advantages
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To Rent or Buy? Renting makes sense if you… Move frequently or suddenly Need to determine long-term desirability Are low on cash Don’t have time/desire/funds for maintenance/improvements Don’t want to risk loss of equity Don’t need/want tax advantages Don’t want to be a landlord Buying makes sense if you… • Have money for the larger initial investment • Are ready for stability • Desire a sense of community • Can financially support two homes • Like to remodel/fix/personalize • Can financially manage fluctuating expenses Advantages of owning vs renting are different for everyone! Consider these important personal situations along with your long-term goals before you decide..