Renting vs. Owning a Home: What’s the Difference?

Renting offers flexibility and predictable monthly costs without maintenance responsibilities, but may face rent increases and sudden moves. Homeownership builds equity and provides stability but involves higher costs like property taxes, insurance, repairs, and maintenance. It requires a long-term commitment and carries market risks. The choice depends on personal finances, lifestyle, and goals, with no one-size-fits-all answer.