You’ve probably asked yourself lately: is it even worth trying to buy a home right now? With high home prices and stubborn mortgage rates, renting can feel like the safer — or even the only — option. That’s a totally valid feeling. Buying today isn’t right for everyone; you should only make the move when you’re ready and when the timing fits your situation.

Still, there’s one big fact to keep in mind about renting: it often costs you more over the long run.

Buying a home isn’t just about having a place to live — it’s a proven way to build long-term wealth. Home prices typically rise over time, so the longer you wait, the more expensive it can get to buy. As values increase, so does your equity — the difference between what the home is worth and what you owe.

With each mortgage payment, you’re effectively converting part of your monthly housing cost into ownership. Over years and decades that can add up: today, the average homeowner’s net worth is dramatically higher than a renter’s.

Renting can feel simpler: lower monthly bills, less maintenance, no long-term commitments. But rent payments don’t come back to you — they pay someone else’s mortgage. Over time, rent tends to rise, which can make saving for a down payment harder and delay your path to ownership. A recent survey shows many aspiring buyers worry that long-term renting will hurt their financial future. That concern isn’t unfounded: renting can make it much harder to build equity and intergenerational wealth.

The choice between renting and buying depends on your personal goals and finances. Here are the core things to weigh:

How long do you plan to stay? Buying generally makes more sense if you expect to stay in a home for several years.
Can you afford the upfront costs? Down payment, closing costs and reserves matter — but there are loan programs and strategies that can lower the initial barrier.
Is your monthly budget ready for ownership? Make sure mortgage, taxes, insurance and maintenance fit comfortably in your budget.
Are you prepared for unexpected repairs? Owning means taking on maintenance; factor that into your plan.

Even if buying feels out of reach today, a clear plan can change that. Small, consistent steps — saving for a down payment, improving credit, getting pre-approved — move the goal closer.

A practical perspective

Some buyers find that, with careful planning, buying still makes sense even in today’s market because of the long-term financial upside. On the other hand, renting can be the right choice short-term for those who need flexibility or more time to save. The important thing is to base your decision on a realistic assessment of your finances and goals, not just what headlines say.

Bottom line
Renting may be more doable now, but over time it can cost you more — and it won’t build equity. If homeownership is a goal, start with a plan: review your budget, talk to a lender about options, and set milestones.

🙌🏼 Want to map out a practical path to buying — or compare what renting vs. owning would look like for you right now? Let’s connect.