Have you been going back and forth on whether to keep renting or finally take the leap into homeownership? I get it—renting can feel like the easier option, especially if buying seems out of reach.
But here’s something to think about: A recent report from Bank of America found that 70% of prospective buyers worry about the long-term consequences of renting—things like rising rents and not building equity.
If that’s been on your mind too, you’re not alone. The truth is, if the numbers make sense, buying a home can set you up for long-term financial success. Let’s break it down:
Why Homeownership Wins in the Long Run
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You Build Wealth Over Time
When you own a home, your monthly payments go toward something that benefits you—not your landlord. As home values increase and you pay down your mortgage, you build equity, which in turn grows your net worth. That’s why 79% of buyers say homeownership is a smart financial investment (NAR).
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Rent Keeps Going Up
Yes, buying a home has upfront costs, but renting comes with its own challenge—rising costs year after year. According to Census data, rents have consistently gone up over the decades. Every lease renewal could mean a higher payment, making it even harder to save for a home later.
Renting vs. Buying: The Real Impact
When you rent, your money is gone for good. It helps your landlord build wealth—not you. But when you own, every payment moves you closer to financial security. If you’re able to buy, why not start putting your money to work for you?
Bottom Line
If homeownership is something you’ve been thinking about, let’s chat. My name is Luisa Armas and I help those families looking to make a move from Los Angeles into Ventura County. Click here (https://bit.ly/3P9vtzd) to check out open houses in your area and see what’s possible. Your dream home might be closer than you think!
