<human>:  What are the pros and cons of rent vs. buying a house?
<bot>: 

Pros of Renting: 
1. Generally less expensive in the short term
2. Flexibility to move with little notice or cost
3. Reduced responsibilities for maintenance and repairs
4. Access to amenities like pools and gyms

Cons of Renting:
1. Limited ability to customize and make long-term improvements
2. Rent prices can be unpredictable and can increase with short notice
3. Landlords may dictate rules regarding pets, renovations, and other activities
4. No ability to build equity or take advantage of tax breaks

Pros of Buying:
1. Potential to build equity over time
2. Overall stability and control in the long term
3. Ability to customize and invest in improvements as desired
4. Potential to take advantage of tax benefits 

Cons of Buying:
1. Higher upfront costs
2. Additional responsibilities for maintenance and repairs
3. Potential risks associated with changing real estate markets
4. Property taxes, insurance and other ongoing costs