Buying vs Renting

Comment RENT or BUY for which team you’re on 🏡 Save this and send it to someone still on the fence. Both of these guys start at $2,000 a month. * The buyer locks that number in for 30 years with a fixed-rate mortgage. * The renter assumes their number stays the same too. It won't. 🔺 Rent increases an average of 3-5% per year nationally. * That $2,000 rent becomes $2,060 next year. Then $2,122. Then $2,185. * By year 10 they're paying closer to $2,600+ a month for the same apartment. That's why the renter paid $280k over 10 years while the buyer only paid $240k. The renter paid $40k MORE and got zero in return. ✅ Now let's talk about the buyer's $320k in equity. That equity comes from two places: * principal paydown * home appreciation. Every single mortgage payment chips away at what you owe on the home. 📈 Meanwhile the home itself is growing in value every year. Add those two together over a decade and you're sitting on $320k+ that belongs to you. The renter has a folder full of receipts and nothing else. People say buying is too expensive right now. But renting IS buying — you're just buying it for your landlord. #rentvsbuying #realestate #PersonalFinance #firsttimehomebuyer #buildwealth