This question has been asked many times. Is it better to buy, or to rent? To answer that question, you need to look at the bigger picture. We broke down some of the key considerations you should think about when deciding if you should be renting or buying a home! Check it out!


When something breaks in your home, it is your problem and responsibility to fix it. Plain and simple. Whether you call a repairperson or fix/repair it yourself, it’s on you, and that can get expensive. However, if you’re renting, when something breaks, it is likely just your responsibility to inform your landlord that it needs repaired. From there it is up to them to pay for and repair the broken appliance, sink or whatever it is that needs fixing.

This makes renting sound pretty appealing, right? That may depend on your landlord. While you may have an awesome landlord that gets right to fixing problems, others may not feel the same sense of urgency (unfortunately, I speak from experience). That could leave you going days without working heat or air conditioning. So who takes this round? Rent or buy? Since it can change depending on your situation, we’ll call this one a draw.

Advantage: Draw


When you rent, whether it’s an apartment or a home, your ability to change things is pretty limited. Some places you can’t hang pictures or have basic decorations. And we’ve never heard of an apartment that lets you paint the walls or do any of your own remodeling. Essentially, when you rent, what you see is what you get.

When you buy a home that is definitely not the case. Any landscaping, painting or any other form of remodeling is your choice. The options are endless. Remodel one room, or the whole house. This gives buying the win in this round. Complete flexibility for the win!

Advantage: Buying


In the short-term, renting has an advantage. When you rent an apartment, you put a deposit down, and pay your monthly rent. There are typically no further upfront expenses. Renting works well if there’s any chance you’ll move out of the area in the near future.

When you buy a home the expenses can add up, and that can be before you even move in. There’s the down payment in addition to closing costs and any additional furnishings you need to purchase for your new home. This makes the upfront costs of owning a home a tough sell in the short-term. With that said, notch a tally in the wins column for renting on this one.

Advantage: Renting


While renting wins the short-term, the longer you rent your dwelling, the advantages of short-term renting slowly go away. One big reason for this is the appreciation, or value, of the home you buy. The longer you live in a home, the more payments you make on your mortgage. The more payments you make, the more of your home you own. This is referred to as building equity in your home. When you rent, there is no way to build equity in your dwelling. This makes buying a better solution over the long-haul.

Advantage: Buying

Special Considerations

There are many other miscellaneous factors to consider when deciding to rent or buy. If you have poor credit, renting may be a better option due to the credit requirement being less demanding than when you apply for a mortgage. Some places may include certain utilities in your rent, allowing you to have more fixed expenses every month. But don’t think that renting is the only option with these types of perks. When you own a home the interest you pay on your mortgage as well as your property taxes are usually both tax deductible expenses. And while things like security are an important consideration no matter where you live, buying a home gives you far more flexibility to add cameras, fences or alarm systems as you feel necessary. When renting, you’re really just stuck with what is already there.

So which side comes out on top in the round? It’s hard to say. In fact, it’s so hard to tell that we can’t decide. We’ll have to let you decide which side of the argument would be better for your wants and needs.

Advantage: ¯\_()_/¯

So who wins? Based on our criteria, buying a home has more advantages than renting. But as discussed, it really just depends on you and your situation. To find out what is best for you, visit with a personal banker or lender for more information. If you’re interested in learning more about our mortgage products, visit our website at

Buying VS. Renting

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