Is It Better To Rent Than Buy a Home Today?
And while that might be genuine in some markets if you just take a look at typical regular monthly payments, there’s something that the numbers aren’t thinking about: and that’s home equity. Here’s how that accumulates compared to leasing, using the overall average lease from above: While you might save a bit on your month-to-month payments if you lease today, you’ll similarly lose out on getting equity. When it boils down to it, buying a home offers you a benefit leasing merely can’t supply– and that’s the possibility to get equity.
Based upon the HPES projections, if you live there for 5 years, you may wind up getting over$83,000 in home wealth as your home grows in worth. When it comes down to it, acquiring a home supplies you an advantage leasing simply can’t provide– and that’s the possibility to get equity.