The difference between renting and buying a home is enormous, especially over the long term.
IF you can buy, do it. It's likely that you can't afford what you could have a few years ago. High mortgage interest rates have taken a toll. But, waiting or choosing to rent is not a wise decision. If you can buy something, do it. The odds are that the values are not going down. Lock in today's prices. And, if rates go down in the future, and they should, just refinance to the lower rate. So much better than renting. Think about all of the people that you know who's net worth is mainly in the equity that they enjoy in their home. For most of us, that increase in net worth was not planned or intentional. It just happened over time. Home ownership is the main avenue to wealth.
The Difference Between Renting and Buying a Home [INFOGRAPHIC]
Some Highlights
- When deciding between buying a home or renting, think about these three important factors.
- Buying a home means avoiding rising rents, owning a tangible and valuable asset, and growing your wealth over time.
- If you’re ready to enjoy the advantages of owning a home, let’s connect to discuss your options.