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Renting Vs. Owning: Building Equity in Your Future

December 24th, 2007 · 1 Comment

For many Americans, owning a home is the cornerstone of their financial wealth. In fact, building equity in a home, combined with tax advantages offered by both federal and state governments, has driven home ownership to record levels.

However, millions of renters continue to have misconceptions about the home-buying process, often delaying a home purchase by saying “it’s too complicated.” Buying a home is not as complicated as it may seem. With a thorough understanding of the process, owning a home can be a very real possibility for many renters.

One of the key steps in determining whether you should be a homeowner versus a renter is understanding what happens to the money you pay each month for rent or a mortgage. For example, let

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