Renting vs. Owning

In many regions of the United States (including right here in San Antonio!), owning a home can be just as affordable, if not more affordable, as renting. Although, it may not be right for everyone, the advantages to owning a home are eye opening to many.

Pros and Cons of Home Ownership


  • Build equity – As you pay down your mortgage, you increase your wealth by building equity.
  • Tax advantages — mortgage interest is tax deductible and can be itemized on your yearly taxes These deductions can mean significant tax savings.
  • Fixed monthly payments — Many times landlords will increase the rent every year, or every couple of years. When you own a home, your mortgage payments can be fixed each month for the life of the loan.
  • Stability — a home can be regarded as a place where your family lives and grows.
  • Creativity—As the home owner, you can decorate, renovate, or expand a house the way you like it to be, creating your dream home
  • Establish community — Many home owners take an interest in the well-being of their communities, working together to better their neighborhoods, schools, and communities.

  • Cons
  • Maintenance — Keeping a home in good condition takes time and money
  • Value Fluctuation — Your home may not increase in value, in fact, it could decrease in value.
  • Financial Obligation — Buying a home with anything other than cash means that you will be obligated to a set monthly payment, unless you sell the home.