The Buyer's Guide
Buying a home now instead of renting one may be the game-changer that amplifies long-term savings for renters who are ready to become homeowners. When paying a mortgage as opposed to paying rent, that money is reinvested back in your favor, so you’re contributing to your own net worth when you own a home. This is a term called equity, and it’s one of the biggest financial benefits of homeownership.
If the pandemic and the changes we’ve faced recently have made you seriously think about buying a home instead of renting one, you’re not alone. You may, however, be wondering if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than to rent one.
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