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Buying versus Renting There are many advantages to buying a home versus renting one. View these advantages in the Buy vs. Rent Comparison Chart, or view a financial comparison of buying versus renting in the Buy vs. Rent Calculator. Your income, savings, and monthly expenses play an important role in determining how large a mortgage you can afford. To
figure out the amount you can afford, please click Affordability.
Savings: Buying In many cases, the amount of money a renter spends on rent can be about the same as or less than the amount a homeowner
spends on a mortgage. With the tax benefit for homeowners, the savings can be significant. Buy vs. Rent Comparison
Monthly Expenses: Buying Your rental company takes part of your rent payment to cover certain housing expenses. When you decide to purchase a home,
you accept responsibility for paying for these expenses (listed below). They are additional costs to your monthly mortgage
payment and should be included in your budget estimates: Additional Information on Buy vs. Rent |
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