Buying vs. Renting?

When considering off-campus housing options, the advantages of buying or renting should play an important role in your decision. This chart will help you weigh the advantages of owning and renting a property:
Advantages                                                                                Buying        Renting
Pay yourself/build equity                                                                 x
Typically no maintenance or upkeep*                                                               x
Tax deductible mortgage interest and other expenses                   x
More privacy                                                                                   x
Less overall monthly out-of-pocket                                                                    x
Make own decision on paint, landscaping, improvements             x
Additional amenities like pools, gyms & clubhouses                                         x
Better parking                                                                                  x
No real estate taxes                                                                                           x
No mortgage approval or loan underwriting required                                       x
No landlords, management companies, earnest deposits              x
No mortgage down payment required                                                               x
Appreciation potential                                                                     x
Improved sense of belonging/community                                       x

*maintenance/upkeep of condominium grounds are typically not the responsibility of owner.

Preferred Providers