Banker Explains: Should You Buy or Rent in 2023?

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Deciding whether to rent or buy a house is a significant financial decision that depends on individual circumstances, preferences, and market conditions. Renting offers flexibility, lower upfront costs, and fewer maintenance responsibilities, making it an ideal choice for those with an uncertain future or limited savings. On the other hand, buying a house can be a long-term investment with potential appreciation, tax benefits, and the ability to build equity. Factors to consider include financial stability, location, duration of stay, and personal goals. Ultimately, choosing between renting and buying a house should be based on an individual's financial situation, lifestyle preferences, and long-term plans.


Timestamps
00:00 Intro
00:31 Buying a House: Example
02:16 Buying & Mortgage Costs Over Time
03:06 Rental Costs Over Time
04:18 Rent VS Buy: 25 Year Costs Explained & Explored
06:38 Factors To Consider When Renting VS Buying
08:54 Summary