Home Ownership Most Popular Articles

Should I Rent or Buy?

Naturally, the decision to rent or buy a home is a personal one and there are no one-size-fits-all answers. However, the following table provides a few things to consider as you make your decision.

Should I Rent or Buy?

Considerations If You Rent If You Buy
Costs Deposit, monthly rent payment, renters' insurance and utilities. Down payment, closing costs, insurance, property taxes, utilities, homeowners' association (HOA) fees and more.
Payments Rent can go up at the end of your lease. Fixed-rate mortgages stay the same, but taxes and insurance may increase.
Tax Savings None. Mortgage interest, taxes and most mortgage loan points are tax deductible.
Equity None. May increase with every mortgagepayment, depending on the terms of the property you loan; may go up if your home increases in value and may drop if your homedecreases in value.
Moving Easy to move out; possible cost if you move before the lease is up; landlord may ask you to move at the end of a lease. A “military” clause in the lease or renter's agreement should allow you—without penalty—to break the agreement if you are transferred or decideto move on base before the lease ends. Consider having your base housing office review the lease before you sign it. Takes time and costs money to sell;can be rented, but you will have tomanage the property from your newlocation or pay someone to do it for you.

Military News App by Military.com

Download the new Military.com News App for Android on Google Play or for Apple devices on iTunes!


The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect America's investors by making sure the securities industry operates fairly and honestly.

Featured VA Loan Articles

  • VA Loan Closing Costs: An Added Benefit
    Besides the advantage of requiring no down payment for qualified VA borrowers, there's also a distinct advantage for the borrow...
  • White suburban home.
    IRRRL Facts for Veterans
    IRRRL stands for Interest Rate Reduction Refinancing Loan,also known as a "Streamline" or a "VA to VA" loan.
  • US Map Showing High Cost Counties
    VA Loan Limits for High-Cost Counties 2017
    The VA loan limit for 2017 is $424,100. But it could actually be substantially more if you buy a home in a high-cost county. Se...
  • Get the FAQs on VA Home Loans
    We've answered 16 of the most frequently asked VA Loan Benefit questions. View them now to get a quick understanding of your be...
  • Top 3 VA Home Loan Tips
    There are numerous advantages to having a VA mortgage. A VA mortgage loan can be guaranteed with no money down, in some cases u...
© 2016 Military Advantage