How to Decide if It’s Better to Rent or Buy Your Home

Homeownership is often seen as the American dream, but renting is becoming more appealing for many, especially younger Americans, due to its flexibility and affordability. Renting offers benefits like less responsibility for repairs and the ability to move easily, while drawbacks include lack of equity and potential rent increases. Conversely, buying a home allows for equity building and tax deductions, but comes with high upfront costs and ongoing maintenance responsibilities. Ultimately, individuals should evaluate their financial situation to determine the best option for their needs.