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There’s an age-old discussion on renting versus buying, and we’re here to settle it. If you’re wondering if renting is right for you, there are a few things to consider beforehand. First, ask yourself if you can afford to buy a home. Sure, renting an apartment with four roommates may not be ideal – especially when those dishes stay in the sink for a week – but it’s important to do a financial assessment before you start home shopping. A down payment is generally around 20 percent of the home price. And with the average home priced at $200,000, you may not have the new sports car’s worth of money to purchase a home upfront.

Is Renting Right for You?
Renting Versus Buying

It’s equally as important to consider the stage you are at in your life – and that’s not referring to your local theatre. If you’re planning a year-long “Eat, Pray, Love” trip, for instance, buying a home may not be the best route for you right now. Renting offers the flexibility of a short-term commitment with low upfront costs. It also allows you to explore various types of apartments over the years and discover your must-haves for your future home. Additionally, let’s not forget about the great amenities. Want free access to a gym? Check. A pool? Check, check. But if you’re still not sure if renting is right for you, check out our video to make sure you’re making the right decision!

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