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Attempts Keep the Highest 4.7/8 4. Rent versus buy - The theory behind the analysis Based on the theory, which is betters to rent or to buy? The decision of whether to rent or buy your housing is a personal decision that is based on both your lifestyle and your finances. While the financial aspect of the decision is important, it is important not to base your rent-or-buy decision solely on the numbers. Your personal needs and housing market conditions are important. The freedorn to decide what, when, and what color you're going to paint cant be quantified, but it is very relevant to the rent-or-buy discussion. What are the theoretical and lifestyle aspects of the rent-versus-buy decision? hong the personsl and lifestyle factors that are relevant to this decision are: - Your desire for - Your desire to fox up your living space and - The personal that results from homeownership Resd each of the following situations and determine whether it makes more financial sense to rent or to buy the home. Frances and Spouse Frances and her husband are tryeig to decide whether to rent of to purchase a new standalone house. As jo-somethings, they have just relocated to a new city to accommodate their jabs and have had their first child. Wheir current bilis consume 9okt of "their combined monthly incormes, and they used virtually all of their savingu to pay their pregnancy-related medical expenses. Based solely on these factors and assuming that everything eise remained constant, should frances and her spouse rect or purchase? Merit Purchase: Hesat Rosa is trying to decide whether to rent or to purchase a new tornhouse: To heip make her decision, she's been watching curfent and expected futute mortgage interest rates and home vahues. Her inteipretation of the dath suggests that interest rates are lkely to decrease in the next tiree months, while home values are likely to increase. Based solety on these factors and assuming that everything else remained cunstant, should Rosa rent or purchase? Ment Rurchasa Several financial or economic factors are relevant to the rent-or-buy decision, From the following list, identify the financial or econcmic factors that should be considered when performing this analysis. Check aN that apply, Current and expected future housing prices current and expected future housing-related tax deductions The nature of the housing unit, such as whether it is a condeminium or a standalone house