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Owning vs Renting: Which is Better?

Oftentimes renting a home or apartment makes more sense. You get flexibility of location, plus the chance to easily move if you have a career change, get married, or start a family. That is why many people prefer to rent, but we see one big problem: it’s not a space you can call your own.

If you plan on settling down, owning your home gives you stability and may even save you money in the long run. Rent rates have increased an average of 2.7% every year since 2011, according to Harvard’s Joint Center for Housing Studies, meaning that some cities have seen rent rise while wages remain the same. This means that buying is more affordable in many markets across the country—58% of them, to be exact.

When you decide to become a homeowner, you gain the freedom to customize your home to fit your lifestyle. Suddenly, repairs and renovations can happen on your schedule, not the whim of your landlord’s. Replace flooring, change the paint color, or even move outside and build the backyard of your dreams.

Undoubtedly the best reason to purchase a home is that with each mortgage payment you make, you increase your equity until, eventually, it is completely yours. When you buy a house with Cresleigh, you’re investing in your future. Explore available models—including move-in ready homes—right here. We look forward to helping you find your dream home.

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