Buying a home makes more sense than renting

If you’re trying to decide whether to rent or buy a home, consider these three things:

Buying a home can help you escape the cycle of rising rents.

Rents have risen consistently for several decades. When your rent rises, you pay more, and that can make saving for a home even harder.

Graph illustrating median asking rent having risen since 1988 through Q4 2022.

Bar graph illustrating homeowners having more than 40 times greater net worth as renters

Homeownership is a powerful wealth-building tool.

When you own your home, you gain equity as home values appreciate and as you make your monthly payments. That's one of the reasons why homeowners have a higher net worth.

Homeownership is typically considered a good hedge against inflation.

With inflation high, landlords may be even more likely to increase your rent. Homeowners with a fixed-rate mortgage can lock in a monthly payment for 15-30 years.

Graphic showing that 73% of property managers plan to raise rents over the next two years.

If you’re ready to take advantage of the benefits of homeownership, let’s connect to explore your options.

Sources: Census, Federal Reserve. Buildium