Should you rent or should you buy a home? With inflation rising, you may be wondering if you should put your plans to buy on pause. Here’s some information that may help you make your decision.
This graph shows the median asking rent since nineteen eighty-eight.
What stands out to me is how steadily it’s been rising each year. If you’re still renting, ask yourself: how many times has your rent gone up? Probably every time you started or renewed a lease.
And as inflation raises prices all around you, that can be a harder pill to swallow these days. But when you buy a home, you can lock in your monthly payment for the length of your loan.
Plus, as you pay that loan off and home prices continue to appreciate, you gain equity, and that will help you build your net worth. Those are two things renting can’t provide.
If consistent payments and growing your long-term wealth are important to you, homeownership should be too – and I can help you get there. I know what steps renters need to take to become homeowners.
Let’s connect to get started today!