Owning versus Renting

A legendary argument as old as time. Here is a quick breakdown with equal weight given to either option - enjoy!

Photo by Jon Tyson on Unsplash

Owning real estate has many benefits compared to renting. One of the main benefits is the potential for wealth creation through property appreciation. When you own a property, its value can increase over time, which can result in a significant financial gain when you sell it. This is especially true in areas with a strong real estate market, where property values tend to rise over time. Additionally, as you pay down your mortgage over the years, you are building equity in the property, which can also increase your wealth.

Another benefit of owning real estate is the potential to generate rental income. If you own a rental property, you can collect rent from tenants, which can provide a consistent stream of income. This can be especially beneficial if you own multiple rental properties, as the income from each property can add up quickly.

Owning real estate also provides a sense of stability and security. When you rent a property, you are at the mercy of your landlord and can be asked to vacate the property at any time.