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The decision to rent or buy a home can be complicated at The Prestige City. Here are some considerations:

Renting a home means you have few responsibilities. Your landlord, property manager or rental management company takes care of the maintenance, repairs and yardwork. But there are downsides: You may not like your neighbors, or the landlord might decide to sell the property. Then you'll have to move.

When buying a home, you get tax advantages for mortgage interest payments and property taxes. Historically, homes increase in value and provide equity that can be tapped for living expenses or upgrades. However, homeownership is more expensive than renting because of repair and maintenance costs, homeowner association fees and other expenses — such as lawn care and snow removal. Many experts recommend setting aside 1% to 4% of your home's value each year for upkeep needs.
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