- If you’re considering whether to buy or rent, consider these 3 things:
Buying a home can help you escape the cycle of rising rent
Rents have risen consistently for decades. Ever time rent rises, it makes saving for a home even harder.
Home ownership is a powerful Wealth-Building Tool
When you own vs. rent, you gain equity as home values appreciate and as you make your monthly payments. Homeowners today have the average net worth of $255,000 vs $6,300 which is the net worth of an average renter.
Homeownership is typically considered a good hedge against inflation
With inflation high, landlords are more likely to raise your rent. Homeowners have fixed monthly payments that never change with the economy unless you refinance to a lower payment.