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  • property taxes
  • upkeep and maintainance of the property
  • the chance to build up equity in the property
  • The biggest difference in the long term in owning a property is that you get t
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    Basics

    You can decide this question in two ways:

    • at a personal level
    • at a financial level
    The personal level is something for you to decide. You may decide to buy a house because you like the sense of ownership or having your own backyard. These are non-financial questions.

    Financial Factors To Consider

    When you rent you have the following factors:

    • monthly rental cost
    • no tax savings on rent payments
    • no sharing in the increase in the value of the property
    • no sharing in the decline in the value of the property
    • no property tax
    • no chance to build up equity in the property
    When you buy a property you have the following factors:

    • a mortgage payment
    • tax savings because of the deductability of mortgage costs (consult your tax advisor)
    • exposure to the increase or decrease in your property value
    • property taxes
    • upkeep and maintainance of the property
    • the chance to build up equity in the property
    The biggest difference in the long term in owning a property is that you get to
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    ense of ownership or having your own backyard. These are non-financial questions.

    Financial Factors To Consider

    When you rent you have the following factors:

    • monthly rental cost
    • no tax savings on rent payments
    • no sharing in the increase in the value of the property
    • no sharing in the decline in the value of the property
    • no property tax
    • no chance to build up equity in the property
    When you buy a property you have the following factors:

    • a mortgage payment
    • tax savings because of the deductability of mortgage costs (consult your tax advisor)
    • exposure to the increase or decrease in your property value
    • property taxes
    • upkeep and maintainance of the property
    • the chance to build up equity in the property
    The biggest difference in the long term in owning a property is that you get t
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    ent payments
  • no sharing in the increase in the value of the property
  • no sharing in the decline in the value of the property
  • no property tax
  • no chance to build up equity in the property
  • When you buy a property you have the following factors:

    • a mortgage payment
    • tax savings because of the deductability of mortgage costs (consult your tax advisor)
    • exposure to the increase or decrease in your property value
    • property taxes
    • upkeep and maintainance of the property
    • the chance to build up equity in the property
    The biggest difference in the long term in owning a property is that you get t
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    n you buy a property you have the following factors:

    • a mortgage payment
    • tax savings because of the deductability of mortgage costs (consult your tax advisor)
    • exposure to the increase or decrease in your property value
    • property taxes
    • upkeep and maintainance of the property
    • the chance to build up equity in the property
    The biggest difference in the long term in owning a property is that you get t
    How to Make Your Home Buying Fun in Miami Beach Real Estate
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    r property value
  • property taxes
  • upkeep and maintainance of the property
  • the chance to build up equity in the property
  • The biggest difference in the long term in owning a property is that you get to "ride up the value in the property". If the value of the property increases by $200,000 over 4 years that is your money to keep if you own the property.

    In a declining real estate market you may be better off renting a property so you aren't exposed to real estate losses.

    Keep in mind that it is difficult to "time the market" and know exactly when prices will increase or decrease.

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