Saving Money to Own vs. Renting

At some point in everyones life, the question pops up on how you can save money monthly on your housing expenses. With current rental properties getting hiked up 40% around the country and the housing market also increasing in prices, Whats the benefit of owning vs renting?

A fixed monthly housing expense takes the stress away of unforeseen expenses. When our rent up $500 due to inflation and Covid it wasn't a hit we were ready to take. It was either sign away at the dotted line or go on the hunt for a new place to call home. Neither sounded like a good option.

By us working in the industry we knew it was time to practice what we preach and actually start the process of buying a home.

Once you have a fixed monthly mortgage payment, rising interest rates won't affect you. An increase in property taxes and homeowners insurance is common and most often then not it is a minimal increase to your monthly payments.

With good credit, steady employment and income, and enough reserves set aside for down payment and closing costs, home ownership is closer than you think. You're always going to need a place to live, why not own it?