As we have all seen, rent continues to increase. This face has been proven by the U.S. Census Bureau. With interest rates bring at an incredible low right now it might be the time for you to make the move from a renter to an owner to invest in your future.

It seems like a big step and may seem risky but we are here to provide you with information and support. The timeline for purchasing a home looks a little different for everyone and the answer depends a lot on your current situation and future plans. Here are a few thoughts to help you decide if you’re ready to transition into a home owner.

Rent Will Continue to Go Up

This is the number one reason why people don’t renew leases in most cases. When you own your own home, you lock in your monthly payment for the life of your loan. This creates consistency and you will be able to predict your monthly payment and therefore create a stable financial plan.

Do What You Want!

Stuck in an apartment or house with hideous accents or wall color? When you own your own home you have the freedom to customize you space! Most landlords will not allow you to make these changes but as a homeowner you get to make it genuinely your own.


As a renter, the landlord has access to enter your home for a number of reasons. In many cases you may not have a choice in who enters your home or when they do. Given the health concerns with the pandemic, this is an issue that causes concern. As a homeowner you can choose a reliable and trustworthy source to come at a time that works best for you.

Investing in your Future!

Depending on your situation, renting may be easiest for reasons such as a job transfer. When you pay your rent, your landlord earns the equity. When you own the home, you are making a direct investment in your future and your net worth. This equates to savings that you can use in the future for things such as buying a second home, vacations or investing in a business of your own!

Buying Pros

  • Every payment brings you closer to owning the home
  • You can cash in on appreciation
  • You have tax advantages
  • You have more freedom and privacy

Buying Cons

  • It’s more difficult to travel and relocate
  • You have more expenses and responsibilities

Renting Pros

  • You can move with ease
  • You don’t have to pay for maintenance

Renting Cons

  • Rent rates continue to rise
  • You have no financial incentives
  • No freedom to renovate

If you are interested in starting the buying process we are here for you with advice and resources!

Pros and Cons courtesy of Dave Ramsey