Rent VS. Buy

There's nothing like owning your own home. Buying a home can be a great investment. One that can offer great returns with moderate risk. Some of the advantages to buying a house include:

• Equity - over time you can build equity (the value of your home minus what you owe)
• Appreciation - your home can increase in value over time
• Ownership and the pride that goes with it

Your current situation may make renting more cost efficient for you. For example, if you move frequently. But once you compare the benefits of buying versus renting, it's easy to see the advantage of owning - the biggest of which may be the opportunity to build equity. You build equity by:

• Making a down payment
• Gradually paying off the principal of your mortgage
• Having your property appreciate over time