Homeowners often weigh the benefit of equity-building against the flexibility of renting. Equity grows as you pay down principal and, often, if the property value rises. But owning also brings maintenance, property taxes, and less ability to move quickly. Renters enjoy mobility and fewer surprise repair bills, but they miss out on equity accumulation and potential tax items tied to homeownership (which vary by jurisdiction). When planning, consider how long you expect to stay put: many rules of thumb assume a multi-year horizon if you want buying to be a financial advantage once transaction costs are included. This question asks about a common trade-off between renting and buying to help you frame that horizon-based decision.