Buy Vs Rent

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.

 

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