Rent vs Buy

Why Homeownership Is Going To Be Worth It

Why Homeownership Is Going To Be Worth It

Life can feel a bit unpredictable these days. What’s happening with inflation? The economy? The housing market? But in the middle of all that uncertainty, there’s one thing a lot of people still crave – a place to call their own. Because when everything else feels up in the air, home can be the thing that grounds you. As the experts at 1000WATT put it: “Homeownership isn’t primarily...

Infographic showing that the median net worth of homeowner households is $396,500, nearly 40 times greater than renter households at $10,410. It explains how homeowners build equity through monthly mortgage payments and rising home values, and includes a quote from Joel Berner of Realtor.com encouraging homeownership as a long-term wealth-building strategy. Source: Federal Reserve, Bankrate.

The Big Difference Between a Homeowner’s and a Renter’s Net Worth

Homeownership is one of the best ways to build wealth in our country, and it’s easy to see why. As you pay down your mortgage and as home values rise over time, you gain equity, and that helps grow your net worth. That’s why a homeowner’s net worth is nearly 40X greater than a renter's. But you should only buy a home when you’re ready and able to do it. If you want to build a plan to get...

Is It Better To Rent or Buy a Home?

Is It Better To Rent or Buy a Home?

You’ve probably asked yourself lately: Is it even worth trying to buy a home right now? With high home prices and stubborn mortgage rates, renting can seem like the safer choice right now. Or maybe your only choice. That’s a very real feeling. And perhaps buying today isn’t your best move; it’s not for everyone right away. You should only buy a home when you’re ready and able to do it, and if...

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.

Is It Better To Rent or Buy a Home Today?

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....

Buying a Home May Help Shield You from Inflation

Buying a Home May Help Shield You from Inflation

It feels like everything is getting more expensive these days. That’s because inflation has remained higher than normal for longer than expected – and that’s impacting the costs of goods, services, and more. And with rising costs all around you, you’re probably questioning: is now really the right time to buy a home? Here’s the good news. Owning a home is actually one of the best ways to...

The Real Benefits of Buying a Home This Year

The Real Benefits of Buying a Home This Year

Have you been wondering whether you should keep renting or finally make the leap into homeownership? It’s a big decision, and let’s be real — renting can feel like the easier option, especially if buying a home feels out of reach. But here’s the thing: a recent report from Bank of America highlights that 70% of prospective buyers fear the long-term consequences of renting, including not...

The Big Difference Between Renter and Homeowner Net Worth

The Big Difference Between Renter and Homeowner Net Worth

If you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership. Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly 40x higher than a renter’s. Let’s connect if you want to learn more about the financial benefits of homeownership or the programs that...

Renting vs. Buying: The Net Worth Gap You Need To See

Renting vs. Buying: The Net Worth Gap You Need To See

Trying to decide between renting or buying a home? One key factor that could help you choose is just how much homeownership can grow your net worth. Every three years, the Federal Reserve Board shares a report called the Survey of Consumer Finances (SCF). It shows how much wealth homeowners and renters have – and the difference is significant. On average, a homeowner’s net worth is nearly 40...

Buying Beats Renting in 22 Major U.S. Cities

Buying Beats Renting in 22 Major U.S. Cities

That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below): As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home...