Buying a Home VS Renting

When you rent you have a landlord. You are serving them more than they are serving you. Are you starting to think about making a change to become a home owner and the king or queen of your own castle?

There are a lot of benefits to owning your own home. National trends indicate that rents will likely continue to rise in the years to come.

If you’re wondering what the benefits of owning your own home are, here is some information for you.

Price Stability:

When you rent you likely have a lease that provides some protection regarding rates—at least for the duration of the lease. However, when that lease is up, your rent may also go up.

That is not the case with buying a home. As long as you have a fixed rate mortgage you will see your mortgage costs remain stable over time. Yes, your taxes may go up and your home owners insurance may go up but your mortgage payment will be stable. As a homeowner you can project out your housing costs decades in the future. You cannot do that as a renter. Rents will often increase as the market changes.

More for Your Money:

You are likely going to be getting far more square footage and space for your monthly mortgage than you will for your rent payment. Also, if you want to upgrade your housing, as a homeowner you can do home improvement projects. As a renter—you have to move.

Independence and Freedom:

You can make changes to your home and you have more privacy and freedom than renting. You can plant the garden you’ve always wanted. Pets are always welcome if you want them—and there’s no need for an additional security deposit to have a cat or dog—or several. Do you want an exercise room? Go ahead and set it up. Do you want to turn up your stereo? You can do that. Do you feel like dancing at 2AM? You can do that and don’t have to worry about the neighbor downstairs. Do you want to paint your rooms in bold colors? You can do that. Your home is your canvas to paint!


A home is like a forced savings account. Houses typically go up in value—whether that is in a few years or a few decades. Also, each month when you make your house payment, you are increasing your equity (and your savings). If you ever need money, you could potentially borrow money against your asset—which is your home. The investment in your home provides flexibility for your future, whatever changes may come.

Renting offers none of those benefits. Instead it’s like setting your money on fire…it’s gone. Sure, you can always save money—but you won’t get any return on your investment from your rent payment, but you will from your mortgage payment.


A home is a place for making memories. Spending holidays or having barbecues with family and friends; having and raising a family; whatever you enjoy—you can do it in your home. A home also provides long term stability for raising a family.

Why Buy a Home Now?

Because it makes sense! Interest rates are near historic lows—right around 3%. There are also many first time home buyer programs that can provide an assortment of options and assistance to purchase your first home.

If you qualify, there are rural development programs that may cover your down payment. Lower down payments are also available for conventional mortgages with Fannie Mae and Freddie Mac—as little as 3% down may be possible. 

You can also likely tap into your 401K to buy your primary residence—something a lot of people may not know. Why would that be allowed? Because it’s a great investment.

Still on the Fence? Try the Rent vs. Buy Calculator:

When you are ready, give me a call and I will get you home.


Ron Sasso

Ron Sasso