Rent Vs Buying a home can make you money in the long haul

I found a great post at Best Homes in Broward, a real estate site in Broward County Florida that reminds us why it is better to buy a home and enjoy the fruits of building up equity rather than rent for a long period of time and waste your money.  INHO, you work too hard to earn your money than to waste it on renting for the long term.  Renting is fine when you are learning the area.  But once you have figured out what you want and where you want to live, I recommend buying.  You build up equity and can use that equity in a number of ways.  But that is for another time.

Take a look at the article and see what you think.  They would appreciate the conversation.

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    • Sarah Forhan

      We live in NH (one of the ten most expensive states to rent in) and after my husband and I got married we rented for a year while deciding where we wanted to buy. And, though, by renting it gave us time to really decide what kind of house we were looking for. It was one of the most costly years in our marriage. Our apartment was about 900 sq ft and our monthly rent was as much as our now mortgage payment on a 2000+ sq ft home.

      Thanks for the link to the article very informative!

    • AnalysisGuy

      Buying a home is typically the best answer, but one needs to keep market cycles in mind. For example, the coastal markets (particularly California) are seeing a decline in home prices that could effect they value of buying vs. renting…

      Historical Homes Prices of 50 Major US cities

    • Jay Little House

      Never looked back after plunging to buy my frst house..sure was skint to start with but the cash way going into somthing real.

      With todays mortgage options you are not tied to teh same place for 10 years either so is plenty of scope to still move around.

      Jay ‘Little House’

    • I Have Big Loan Still

      Wish I could afford to buy a home, in these times even at ..cant believe im saying this 35 I still don’t have the deposit :( Hard times but well sure ‘sniff ill get there one day with some help :)