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  • Pros and Cons of Buying vs. Renting


    Buying Renting
    Less freedom in moving Flexibility, possibility of moving easily from place-to-place
    Responsible for all improvements and repairs Not responsible for major repairs
    Possibility of using the property for an unlimited period It allows renter to experience living in a residential area with no ties
    Sense of ownership, stability and community Lease renewals are up to the owner
    Possible appreciation/gains, making home ownership an excellent investment Money spent without building your own wealth
    Freedom of renovating the property Inability to modify the properties without the owner's permission
    Responsible for property taxes and condo fees Not responsible for property taxes and condo fees
    Possibility of paying property expenses with the rent Possibility of annual rent increases
    Possibility of deducting the condominium expenses and the property tax from taxation Provides no tax benefits
    Possibility of deducting mortgage loan interest in taxation Provides no tax benefits
    Possibility of generating a monthly income through renting out houses or apartments

    Pros and Cons of Buying vs. Renting


    Buying Renting
    Less freedom in moving Flexibility, possibility of moving easily from place-to-place
    Responsible for all improvements and repairs Not responsible for major repairs
    Possibility of using the property for an unlimited period It allows renter to experience living in a residential area with no ties
    Sense of ownership, stability and community Lease renewals are up to the owner
    Possible appreciation/gains, making home ownership an excellent investment Money spent without building your own wealth
    Freedom of renovating the property Inability to modify the properties without the owner's permission
    Responsible for property taxes and condo fees Not responsible for property taxes and condo fees
    Possibility of paying property expenses with the rent Possibility of annual rent increases
    Possibility of deducting the condominium expenses and the property tax from taxation Provides no tax benefits
    Possibility of deducting mortgage loan interest in taxation Provides no tax benefits
    Possibility of generating a monthly income through renting out houses or apartments
  • RE/MAX ADVANCE REALTY
    7220 Red Road, South Miami, FL 33143
    305 778 0834
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