Among all the difficult decisions that come with looking for a new place to live, deciding whether to buy a home or rent an apartment can be one of the hardest. It’s a decision that can have long term implications on your financial well-being, and in a competitive and expensive real estate market like Boston, the decision only becomes more difficult.
Many people make these decisions based on emotion or gut feeling, which ends up resulting in mixed outcomes. However, with the right data, you can can paint a pretty clear picture of how renting vs. buying can affect your finances both in the short term and the long run.