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Pros and Corns of Renting vs. Buying a House

CIRCL a Toronto-based rental services Company who offer services for all your rental management needs and alerts about similar rental properties. For more details call at - 1-800-707-8154 or email at support@circlapp.com<br><br>

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Pros and Corns of Renting vs. Buying a House

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  1. Pros and Corns of Renting vs. Buying a House

  2. Description • A Lifelong goal of many citizens is to achieve the homeownership. While many people want to buy their own home, there are some people who don’t want to buy the home they would like to live in renting homes. • Since many years, families are either needed to build their own homes or rent a home from someone else. While both renting and buying homes or apartment have their own financial advantage, renting apartment does appear to have an edge when the economy is poor.

  3. Pros of Renting No Responsibility for Maintenance or Repairs  Relocating Is Easier As a tenant, you are not responsible for repair or home maintenance cost. When you live on a rent then relocating is easier and potentially less costly.

  4. Cons of Renting No Federal Tax Benefits Limited Housing Security While a landlord can deduct property taxes and income tax returns, tenant is not eligible for any housing related tax credit or deduction. Many landlords are assigning a lease agreement. For more info: https://roomrentalservices.wordpress.com/2016/10/14/rules-and-agreements-to-consider-when-renting-a-room/

  5. Pros of Buying Building Equity Over Time Potential for Rental Income Although initially, you don’t think of your home as an investment property, which you can turn it right into a source of income. Owning a house offers the long-term benefits of security, equity and potential growth in personal wealth.

  6. Cons of Buying Responsibility for Maintenance and Repairs Potential for Financial Loss As a landlord, you are responsible for covering all the cost of maintenance and repairs. Some property rates had decreased after some time of purchasing a house.

  7. Contact Us Circl- Rental Property Toronto Address: Suite 703, 481 university avenue Toronto, ON, M5G 2E9 Phone number: 1-800-707-8154 Email id : support@circlapp.com

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