The dilemma to buy vs rent has been a popular question in Springfield since the housing market declined after 2007. The answer though, will vary depending on the buyer or renter. In some cases the answer can just be as simple as a lifestyle choice or matter of timing.
Renting can be simpler than owning when it comes to needed repairs. Eventually all houses will need repairs, as a renter you just have to call the landlord to have the repairs made. In some cases yard maintenance is included in the rent, so that helps to further cut down on maintenance. So if ease of maintenance is a priority, then renting might be a good idea.
There are drawbacks to renting also, limited options on paint color or landscaping. As a renter you also have little control over rental increases at the end of your lease term. In the Springfield market a 5% increase is not uncommon. Most leases also include a provision for terminating the lease with 30 days notice in the event the landlord decides to sell the home. Every month of renting, the payment goes to the owner and you as the renter do not build any equity benefit, the landlord does.