Renting May Be Easier Today—But What’s It Costing You Tomorrow?

Still Renting? Here’s Why It Could Cost You More Than You Think

With mortgage rates still high and home prices showing no signs of dropping dramatically, it's understandable if you're asking yourself: Is it even worth trying to buy a home right now?

Maybe renting feels like the easier, safer choice—less pressure, fewer commitments, no big down payment. And depending on your situation, renting might actually be the right choice for now.

But here’s the thing: it shouldn’t be your forever plan—because while renting might feel more comfortable short-term, it can cost you much more in the long run.

Renting vs. Buying: What’s Really at Stake

According to a recent Bank of America survey, 70% of renters worry about how long-term renting could impact their future. And they’re right to be concerned.

Because renting doesn’t build equity. It doesn’t grow your net worth. And those monthly payments? They’re going straight toward someone else’s investment.

Owning a home, on the other hand, puts you in the driver’s seat of your financial future. Home prices have consistently increased over time—even with some market shifts—and owning lets you take advantage of that growth.

Here’s the Wealth Difference

As home values rise, so does your equity—the difference between what your home is worth and what you still owe. That equity becomes part of your net worth, and over time, it adds up.

Today, the average homeowner’s net worth is nearly 40 times greater than a renter’s. That’s not just a statistic—it’s a wealth gap that grows wider the longer you rent.

And while homeownership takes planning and preparation, it’s also one of the most powerful steps you can take toward building stability and wealth.

But What About the Cost of Buying?

Sure, owning a home comes with more responsibility. But it also comes with long-term reward. Think of it this way: when you rent, your money’s gone once you pay it. When you own, part of every mortgage payment builds something that’s yours.

Yes, buying requires a budget, a down payment, and some patience. But you don’t have to be ready today. You just have to get started on the plan.

Bottom Line

Renting might feel more affordable right now—but over time, it’s not an investment. If homeownership feels out of reach, let’s start building a plan to help you get there.

Reach out today, and let’s talk about your goals, your timeline, and what steps you can take right now to start moving toward ownership. And for more tips, tools, and free buyer resources, visit buywithamber.pillarrealestate.com.