Is it better to own a home or to rent?

Answer by  patti (29325)

For the purposes of taxes and equity, it is better to own. There is no benefit to renting, in terms of taxes or worth, but many prefer it.

Answer by  Devin98 (487)

This will depend upon your personal preferences. Renting involves just paying rent while owning would entail all the repairs, taxes, insurance and being completely responsible for the home.

Answer by  ammnivarghese (262)

It is left to individual desire. By renting out, you do not have to worry anything else, except pay the rent to the owner. Whereas if you buy a house, the morguage is throughout a burden. If you are alright to work and repay no problem! , but if you fall sick, the employer closes his unit, then the problem. So Rent!

Answer by  SubhashChander (1773)

It is always better to own a house than to get a house on rent. Own house adds to one's prestige and the same is a llfe long lasting asset.