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The Pros and Cons of Buying a House

PennyMac

The ability to decorate your walls, or paint them sky blue, and live with a pet without landlord approval makes buying a home attractive, as do the substantial financial benefits such as tax savings and equity building. Property taxes and HOA fees are the buyer’s responsibility. Rental insurance is inexpensive.

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17 Popular Types of Homes In Real Estate

PennyMac

Cons: Limited exterior personalizations (HOA restrictions). These units are rented out, so landlords have more responsibility than residents, but residents aren’t building equity since they don’t own anything. More affordable prices and insurance. Limited privacy and total freedom with property (HOA restrictions).