finances can be complicated, but they don't have to be.

I break down financial topics that may seem complex and overwhelming so you can start taking action on your financial goals.

I'm Ari Talby, and it all starts here on Personal Finance Redefined.

Hi everyone and welcome back to another episode of the podcast.

Hope you're having a great week so far.

And hope the weekend was a fun one.

Today's episode, all about renting versus buying.

And this is a fun one.

So let's get right into it. There's many pros and cons when it

comes to deciding whether or not renting or buying is best for you. It will never be a simple decision,

but one that has to do with your preference, your risk level, assets, and priority. Now, if you, if you heard that, preference, risk level, assets, and priority. Now, if you heard that, preference, risk level, assets, and priority,

only one of those four are financial. So here's an argument I often hear. My mortgage payment

would be roughly the same as my rent payment. Therefore, I should buy a house because I'm building

equity. So now this is not

entirely wrong or even unreasonable, but what it is is it's not complete. So when looking at

whether or not you should buy or rent, there's five things that I like to look at. The first is

opportunity cost. The second are common costs of home ownership.

The third are additional costs you didn't think of.

The fourth is financing and the fifth is putting it all together.

So let's go through each of those five.

So the first one, opportunity cost.

When you buy a home, you are putting into it a large

...