Renting vs owning a home advantages and disadvantages
it is not easy to define a clear winner when debating renting or buying. In other states where the taxes and cost of living are lower, renting may work. However, in Chicago Land Area owning has the benefit because of the financial benefit after a few years of payments. Ultimately, rents will continually go up, but you can refinance to lower your mortgage payment. To the contrary, renting only serves a lifestyle benefit, should the landlord handle all of the maintenance.
