Is It Better To Rent or Buy a Home Today?

An infographic titled 'Is It Better To RENT or BUY a Home Today?' compares the long-term effects of renting versus buying a home. A study shows 70% of prospective buyers fear the long-term consequences of renting. Rent Usually Rises Over Time: A bar chart illustrates the median asking rent for vacant units from 1988 to 2024, showing a steady increase. If You Rent: 'You’ll likely pay more each time you renew your lease or sign a new one.' If You Buy: 'You can stabilize your monthly payment with a fixed-rate mortgage.' Home Prices Typically Go Up Over Time: A bar chart shows the average sales price of houses sold since 1988, highlighting long-term appreciation. If You Rent: 'Home prices will continue to climb. That could make buying feel even harder later.' If You Buy: 'Your net worth will go up as your home’s value increases.' The infographic concludes that while renting may be less expensive in some markets, it doesn't match the long-term financial benefits of homeownership. At the bottom, Paul Garrison’s real estate contact information is provided, along with real estate logos. The sources cited include Bank of America, St. Louis Fed, HUD, and Census.

A study shows that 70% of prospective buyers fear the long-term consequences of renting. And here’s why. Rent usually rises over time, making it harder to save up to buy a home. But when you buy, you can stabilize your housing expenses and grow your net worth as home values rise. While renting may be the less expensive option in some markets, it can’t match the long-term benefits of homeownership. What’s your #1 reason for wanting to buy?

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