Renting vs. Buying: Which makes more sense?

Owning your own home has long been sold as the American dream. Of course, the ones selling that dream have often been lenders, home builders, and governments who often stand to benefit when you buy a house in the first place. The purpose of this article is not to make a case for either or, but rather to illustrate all the costs associated with each so as to (hopefully) better inform you, the consumer, in your decision making process. Renting a House Pros: Cost: Rent is generally much cheaper in more expensive markets than the cost of a mortgage, taxes, and insurance (PITI). Maintenance: Maintenance is provided by a third party.  (If your roof needs to be replaced you're not on the hook for the bill. ) Time: Less of [...]