What are the benefits of buying vs renting? – MovingGreaterBoston.com
 

What are the benefits of buying vs renting?

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