Is renting a better option?

Apparently in the media lately it has been going around that renting a home is a better option to buying. Is this accurate though? Lets dive into it..

Yes, I know, rates are “high”. But lets look at it historically.

Did you know that the average mortgage rate is historically in the double digits. The 2-3% rates that we saw the past few years were NOT normal, and we most likely will not drop down that low again in our lifetime. So if you put off buying a home you missed the low rate boat.

The good news is that you still have the opportunity to purchase a home and start building your wealth!

Back to our original question. Is renting better than buying a home?

Honestly, it all depends on your situation! If you are looking to move out of the area in the near future or do not want the responsibility of maintaining a home.. then renting is probably better for you. BUT if you plan on staying in the area for a few years and would like to start growing your personal wealth, buying is definitely the right option for you!

Did you know that a homeowners net worth is 40x greater than a renter? How insane is that?

So before you sign that rental contract I would recommend you explore your buying options… I am happy to chat with you more in depth about your personal situation, and see is buying a home is the right step for you!

Check out my youtube video diving deeper into this topic HERE