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19 February, 02:09

Identify the advantages of renting versus buying a home.

tax benefits, lower repair costs, fixed mortgage payments, lower insurance costs

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  1. 19 February, 02:35
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    While it may seem like buying a house will be a great real-investment, nothing can be further from the truth.

    When you rent a house, you only have to pay the Rental, and possibly an insurance cost and obviously utility bills.

    However, if you buy a house, your single biggest monthly expense would be the Mortgage. You will also have to pay a property tax, huge repair and maintenance costs and insurance costs to cover the property.

    Mortgage payments can take up to 20-30 years to pay off and if you combine the costs of tax, repairs and insurance, you really don't end up with a very expensive asset.
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