Some buyers, who are otherwise ready to buy a home, are putting off buying because interest rates are at 7%.
But you know what’s also high? Your monthly rent.
In addition to getting more expensive every year, you don’t get anything back when you pay your rent. Your landlord gets all of that rent money and you don’t see another penny.
But when you buy a home, you get to start building equity.
Then, when you sell the home down the road, you get the money that you paid every month back as equity–typically plus a little extra since real estate values increase over time.
