June 08, 2022 at 3:40pm | Brianna Hill
If you're considering whether it's time to stop renting and purchase a home, I want you to keep in mind that the interest rate on renting is 100%!
However, renting does have its perks. 
-No maintenance costs
-No down payment,
-Flexibility to move 
-No concern about property value. 
But the truth is your monthly rent payment is just like paying 100% interest month after month after month. ⁣
You see, when you toss the financial jargon, interest, at its simplest, is the fee you pay to live in your home. When you rent, that is what you’re doing. You’re paying month after month, gaining nothing other than a roof over your head.⁣
Yes, when you buy, you’re paying a fee (your mortgage) month after month, but you’re doing so much more than making a 'rent' payment. You are...
✔️An appreciating investment
✔️Increasing equity (every month, the bank owns less of your home, and you own more!)⁣
✔️Advantages come with tax time⁣
✔️Freedom to personalize however you choose⁣
✔️Predictable housing costs 

In almost every situation, it pays to buy vs. rent.


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