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Is Renting or Buying a Home the Right Financial Move for You?

Updated: Jun 6

REALTOR, FAITH NICOLE 5-MINUTE READ

JULY 7 2023


 If you're currently renting, you're faced with a significant decision each year: whether to renew your lease, find a new place to rent, or take the leap into homeownership. Before diving too deep into your options, it's crucial to grasp the true costs associated with renting in the future.


    Over the past year, both existing and new renters have experienced rent increases, as reported by realtor.com:

A significant 74.2% of renters who moved in the last 12 months saw their rent rise. Even those who lived in their current rental for 12 to 24 months, and likely renewed their lease, weren't spared, with 63.2% reporting rent hikes.

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