Buying a Home vs. Renting: Key Factors to Consider

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As Millennials age and start families, many are compelled to own a home instead of rent, but this should not be an automatic response. There are a seemingly overwhelming number of variables at play in making an informed decision on renting versus buying. Common factors that influence whether you should rent or buy include the length of time before your next move, the difference in cost per square foot between renting and owning comparable properties in your area, mortgage rates, access to credit, and the affordability of a down payment for a home purchase.
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