What are the cons to renting?
Rising Rent - If rent is $1000 per month with a 5% annual increase; you will have spent over $66,000 in only 5 years!
No Tax Deduction - Other than a possible tax refund via your Certificate of Rent Paid, you do not receive tax advantages from renting.
No Ability to Build Equity - You are creating wealth for your landlord instead of for yourself!
Less Privacy - Unless you are renting a single-family or town home; duplexes and multi-family dwellings typically do not offer the privacy of your own home.