Should i rent or buy a home?

Is it better to rent or buy a home? I'm walking through the pros and cons of each!
Timestamps
00:00 Introduction
00:31 Flexibility
01:34 No maintenance
03:07 Moving around
04:01 The price of rent
05:11 What can you control?
06:17 Stability
07:52 Full control
08:46 Mortgage stays the same.. mostly
09:15 Tax deductions
09:49 Maintenance
10:23 How your mortgage can increase
12:00 You're kinda stuck
13:13 Responsibility!!!
14:09 Summary
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I'm documenting my financial life which includes everything from paying off debt to budgeting to buying my first house! If you want to know what I'm up to on a daily basis, follow me on Instagram, Twitter, or TikTok. 😊
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Disclaimer: I don't have any formal financial background or training. I'm just someone who wished someone had taught me about finances when I was younger and I want to share what I've learned along the way. 😊
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[@MrSteviej893]

Bottom line is responsibility; there's a lot to be responsible for with home ownership whereas with renting, it falls on apartment management. I wouldn't trade homeownership for renting at all.

[@kurateddesignsbykim]

Great points to both renting and owning. Have you considered the fact that while you are renting you are adding to someone else’s equity or wealth while homeownership leads to generational wealth. Just something to think about.

[@lifeandnumbers]

Good point! That's definitely an advantage, the ability to build equity. Just make sure you are financially prepared to own property so you don't cause financial harm in the pursuit to build generational wealth.

[@vjord4441]

Love this video.. in addition to owning .. taxes and insurance 🤦🏾‍♀️will go up depending on area..and I pay for flood insurance because I’m in a flood zone … was not expecting that … renting was way easier looking back .. but here we are. Definitely depends on the lifestyle as-well.. perspective is everything in this area .. Thanks for sharing.

[@lifeandnumbers]

ooh flood insurance, I didn't think about that! yeah homeownership definitely isn't easy, just depends on what you are willing to deal with 🤷🏽‍♀️

[@taneciaro7462]

❤

[@lifeandnumbers]

thanks for watching!