Frontwave Blog

The Pros and Cons of Buying vs. Renting

Whether you’re in the market for a new place, thinking about selling, or just taking stock of your current living situation, you may be weighing whether it makes sense to buy or rent your next abode. Ultimately it’s a personal choice, but there are some basic pros and cons to consider. Let’s take a look:



  • You’ll always have a stable place to live.
  • You can fully customize your living space.
  • You’ll build equity over time.
  • You won’t have any landlord rules or restrictions to live by.
  • You may be able to deduct interest from your taxes.*


  • You’ll have less flexibility to move.
  • You’ll have to pay for repairs and maintenance.
  • Home values can go down over time.
  • You’ll have personal liability for what happens in your home and on your property.
  • You’ll have to pay property taxes and insurance.



  • You’ll have more flexibility if you want to move.
  • There’s generally less maintenance.
  • Your landlord has to pay for repairs.
  • Getting into a new place requires a smaller deposit/down payment.
  • There’s no long-term commitment.


  • Your landlord may have rules or restrictions you don’t agree with.
  • Your landlord could sell the home or apartment while you’re renting.
  • There are limits one what you can customize.
  • You won’t build equity each month.
  • Your rent may go up over time.

Of course, you also have to consider home prices vs. rental prices in your area. And all other things being equal, sometimes it just comes down to a numbers game. But there’s no need to break out the paper and pen. To see if you can afford buy, check out our handy online purchase calculator! Simply plug in the numbers to see where you land.

If all signs point to buy, get the ball rolling by applying for a mortgage online or giving our friendly Home Loan Consultants a call at 760.631.8717. We're here to help!

*Consult your tax advisor regarding deductibility of interest.