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There are some key factors that will affect your decision including term of stay, affordability, level of commitment, purchase intention and future plans. Renting gives you the flexibility of moving to another place when the rental contract ends while buying a property means you “own” it and are free to renovate the place to suit your lifestyle needs.
Check out our in-depth guide on the key differences between owning and leasing a property: https://www.propertyguru.com.sg/property-guides/buying-vs-renting-property-singapore-costs-35216
Hope this answers your question.