From a financial perspective,the decision of whether to rent or buy is tied to how long to plan to live in the home.

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This is because the cost of buying a home includes upfront expenses like a down payment and closing costs, while renting typically only requires a security deposit and first month's rent. Homeownership also comes with ongoing costs like maintenance, property taxes, and homeowners insurance. If someone plans to live in a home for a short period of time, it may not make financial sense to buy because they may not recoup those upfront costs and could be stuck with ongoing expenses. However, if someone plans to live in a home for a longer period of time, buying may make more sense because the upfront costs will be spread out over a longer period and they may eventually build equity in the home.

From a Financial Perspective,the Decision of Whether to Rent or Buy