Buying vs Renting

    Buying vs Renting

    Oct 28, 2019

    Buying vs Renting

    Trends in home prices, personal income and mortgage rates, combined with the tax advantages of home ownership, make this an excellent time to turn your dream of homeownership into a reality. If you’re thinking of buying a home, you’ve probably already asked yourself, “Can I afford to buy?” Another good question to ask is, “Can I afford to continue renting?” No matter what you’re currently paying for rent, your total cash outlay over a period of several years will probably add up to a much bigger total than you may have realized. The chart below shows how quickly the rent payments you’re making add up by calculating in what this money would earn if invested at 5 percent interest.