The two don’t really compare at all. The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing.

Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.

Thinking of Selling Your Home? Read This.

Energized Realty Group has experience in all areas of North Queens Real Estate including Queens Houses, Queens Co-ops, Queens Condos, and Queens Apartments. If you are looking to sell a home in Bayside, Beechhurst, College Point, Douglaston, Flushing, Fresh Meadows, Little Neck, Malba or Whitestone, or selling a NY Condo or Co-op be sure to contact Energized Realty Group. If you are looking to buy, we showcase an incredible selection of North Queens houses for sale and co-ops/condos for sale.