Business Essentials, 12/e

Renting	Buying
No down payment to get started	Must make payments for mortgage, property taxes, and insurance
Flexibility to leave	Equity builds up over time
No obligation for upkeep or improvements	More privacy
No groundskeeping	Value of property may increase
Easy cash-flow planning (a single monthly payment)	Lower income taxes: mortgage-interest and property tax payments reduce taxable income
May provide access to recreation and social facilities	Financial gains from selling house can be exempt from taxes
Timing for repairs controlled by owner	The home can become a source of cash by refinancing with another mortgage loan or a home-equity loan