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Buy vs. Rent Comparison Chart

Advantages Considerations
Buy Property builds equity Responsible for maintenance
Sense of community, stability, and security Responsible for property taxes
Free to change decor and landscaping Possibility of foreclosure and loss of equity
Not dependent on landlord to maintain property Less mobility than renting
Rent Little or no responsibility for maintenance No tax benefits
Easier to move No equity is built up
  No control over rent increases
  Possibility of eviction