The main difference between renting and owning is that rent only goes up. In fact, have you ever heard of a landlord lowering your rent? NO, that never happens. The landlord’s goal is to raise the rent over a process of years. When you are a renter, your rent is only going to go up every year, but if you are a homeowner with a fixed-rate mortgage loan, your payment never goes up. It stays the same until the loan is paid. Rent only goes up; a fixed-rate mortgage loan never goes up, http://tinyurl.com/dy2wjx4.
