Why Buying A Home MAY Make More Sense Than Renting
If you are trying to decide whether to rent or buy a home, consider this:
Buying a home can help you escape the cycle of rising rents.
Rents have been aggressively increasing for decades. When rent rises, you pay more, and that can make it harder for you to save and buy a home.
Homeownership is a powerful wealth-building tool.
When you own, you gain equity as home prices rise and as you make your monthly payments. That is one of the reasons why homeowners have a higher net worth.
Homeownership is typically considered a "Good Hedge" against inflation.
With inflation high, landlords may even be more likely to increase your rent. Homebuyers can lock in a monthly payment for 15-30 years.