<human>:  What are the pros and cons of renting versus buying a house?
<bot>: 
Pros of renting:
 • More flexibility in terms of relocation
 • Potentially lower financial commitment
 • Fewer responsibilities in terms of repairs and maintenance

Cons of renting:
 • Limited ability to customize
 • Limited potential for building equity
 • Unpredictable rental terms and cost increases

Pros of buying:
 • Likely to build equity
 • Ability to customize and make changes
 • Fixed term mortgage payments

Cons of buying:
 • Higher financial commitment
 • More responsibilities for maintenance and repairs
 • Limited flexibility in terms of relocation