What are the benefits of buying vs renting?

By Real Estate August 5, 2019

Buying vs renting is a case-by-case basis for most situations, but there are certainly benefits of both.

Here is a helpful tool that can help you budget and decide what is best for you.

Buy Rent Calculator

 

The benefits of buying include:

  • Tax Savings
  • Stability – fixed mortgage payments versus possible increase in rent over years
  • Equity
  • Secondary Income – when you own a property, you can use it to rent out space to tenants

 

The benefits of renting include:

  • Flexibility – there are short term and long term leases that give you the chance to leave and move around more frequently with less headache
  • Little Maintenance – landlords typically pay for upkeep and repairs made in rental units
  • Possible utility coverage – in some instances, landlords will include utilities like heat and hot water in the rental cost
About the Author
Joshua Stephens, Vice President

Joshua Stephens is the founder and president of Moving Greater Boston and a Vice President of Berkshire Hathaway Home Services Warren Residential. After graduating from UMASS Amherst with a degree in psychology in 2008, Josh dedicated five years to social service work on the North Shore before joining Berkshire Hathaway in 2013, where he found his professional calling and quickly distinguished himself as a motivated innovator capable of synthesizing the needs of buyers, sellers, investors, and developers. In just a few short years, Josh formed Moving Greater Boston and achieved over $100 million in sales after only 7 years in the business. Josh's team has been consistently recognized at both the local and national levels, receiving numerous prestigious awards for sales and customer service. Last year, the Moving Greater Boston team was awarded the coveted Chairman’s Circle Platinum award for all of Berkshire Hathaway Home Services, which recognizes agents and teams that are in the top 1% for sales across a network of over 70,000 agencies. In 2017, Josh was also personally selected to serve on the Berkshire Hathaway Home Services National REthink Council, an honor bestowed upon only 15 agents among thousands of applicants. Despite his many and ongoing successes in the world of real estate, Joshua has never lost sight of his social work roots. A compassionate and principled professional who knows the value of strong communities, Josh continues his advocacy outside of the office by being actively involved in a number of local organizations and charities. In 2016, he was instrumental in conceptualizing and developing Business Networking International (BNI) Prospect Hill, an organization that connects local business professionals and aspiring entrepreneurs. As a native of Massachusetts, Joshua has an intimate knowledge of Boston real estate, while having a degree in psychology helps him to understand each of his clients' unique needs, enabling him to connect them with ideal communities, an opportunity which he considers both a priority and privilege. Rather than simply facilitating the buying and selling of property, Josh views his role as a realtor as a lifelong commitment to continually serving the best interests of the people who have put their trust in him. Josh continually strives for excellence in service, provides in-depth knowledge of the market, and blends unwavering integrity with amenable good humor to alleviate the stress of real estate transactions and assure the experience is one that lets the sensation of being in the perfect place, at the perfect time, truly resonate.