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To buy or to rent - that is the question. Both have their place. First, renting can be the answer for families who know they'll only be in the area for a short time or who prefer not to contend with maintenance. It's also the only solution for anyone with insufficient funds for the down payment on a home.
The main disadvantage of renting is a financial one. As living costs rise - so do rents. A lease may protect you temporarily, but when it expires, the landlord is free to increase the rent - even under rent control when justified. Rent payment cannot be deducted from income tax
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