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In addition to comparing the home to your minimum requirement and wish lists, you may want to consider all of the following:

• Is there enough room for both the present and the future?
• Are there enough bedrooms and bathrooms?
• Is the home structurally sound?
• Do the mechanical systems and appliances work?
• Is the yard big enough?
• Do you like the floor plan?
• Will your furniture fit in the space? Is there enough storage space?
• Imagine the home in good weather and bad – will you be happy with it year round?

The two don’t really compare at all, trust me. The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you’ll lose the chance to build equity, take advantage of tax benefits, and protect you against rent increases. Also, you may not be free to decorate.