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The Benefits of Buying Instead of Renting

Tuesday, October 25, 2022   /   by Shane Kilby

The Benefits of Buying Instead of Renting


Even with inflation, it’s still better to buy a home, and here’s why.

Have you ever wondered if you should rent or buy a home? With inflation rising, you might be wondering if you should put your plans to purchase a home on pause. However, I do believe there are some strong benefits to buying, and I’m here to show you the data to back up my claim.

 
At 0:20 in the video above, you will see a graph of the median asking rent since 1988. It shows that prices have been rising consistently. Rates rising everywhere and in both avenues can be a tough pill to swallow. However, when you buy a home, you get to lock in your monthly payment for the length of that mortgage. Plus, you get to pay down the loan. You gain equity, and that will help you build your net worth.

If consistent payments and growing your long-term wealth are important to you, homeownership should be too. We know what steps renters need to take to become homeowners, so let's connect over a phone call or email, and we can help you get started. We look forward to it!

 


      home buying

    BrickDriven Realty
    3505 Florence Blvd
    Florence, AL 35634
    256-766-0000

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