Owning vs Renting
If you think you can't afford to buy a home consider this: the homeownership rate in the U.S. is nearly 69 percent – which shows how homeownership is within reach for more Americans than ever before. In fact, it can be as affordable as renting, and in some parts of the United States, it can be more affordable. To find out which option is right for you, you will need to learn about home prices in the area you want to live, calculate what the monthly cost of a mortgage would be, and compare that number to the rent on a similar piece of property.
While not right for everyone, there are a lot of advantages to owning a home. You can pay the same, or even less, while often building equity (the difference in how much the home is worth over how much you owe on it). In addition, you may be able to save on your federal taxes by deducting the interest paid on your mortgage.
