This flowchart could help you decide whether to buy or rent a home
Shutterstock
Should you buy or rent a home?
The flowchart below may be able to help you decide.
Like with most money questions, there's no one, universal answer. Instead, it depends on your own situation, from the state of your savings to whether you're willing to coordinate getting a leaky faucet fixed.
When going through the chart, keep in mind that your answer is just for now - if the chart says you're better off renting, it certainly doesn't mean you have to rent forever.
In six months, a year, or even a matter of weeks, your situation could change and so could your answer.
For more insight into any of these questions, check out the explanation from financial experts.
Skye Gould / Business Insider
NOW WATCH - We Did The Math: Should You Buy Or Rent In These Major Cities?
- 2 states where home prices are falling because there are too many houses and not enough buyers
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market