Here’s something anyone torn between renting or buying needs to realize.
While renting can feel much less expensive right now, it also means missing out on the long-term wealth you build when you own.
This chart makes it clear. No matter when someone buys, homeowners end up building far more wealth than renters. And that’s true even after you factor in things like repairs and property taxes.
That’s because every mortgage payment adds to your equity, while every rent payment is money you never get back.
If you’ve been wondering whether you should rent or buy, this is your reminder that owning is a better long-term play.
