Whether you are single or coupled in the D.C. metro area, you will potentially be in the position of making a major decision: Do I (or we) rent or purchase a home? From an economic perspective alone, the D.C. metropolitan area tends to be cheaper in the long run to own than to rent. But to live here budget is key, so that means no shopping sprees, no splurges and definitely no gambling sites such as these.
However, you must bear in mind that it is dependent upon many factors and there certainly are exceptions to this financial generality. Here are some of the pros and cons of both home ownership and renting.
And, if you happen to be searching for a new place to live with a partner, you need to keep relationship issues in mind as well.
Be sure that you weigh all of the options. Everyone’s situation is unique. And, here’s a suggestion for couples that are deciding on renting versus buying. Make a chart with the above categories, brainstorm, and come up with your own lists of advantages and disadvantages for either renting or buying. Be sure to think about the future and see what you come up with. Just the process of talking about the pros and cons may very well help you feel more connected.