You’ve probably asked yourself lately: Is it even worth trying to buy a home right now?
With today’s home prices and mortgage rates, renting can feel like the easier option. In some cases, it may even seem like the only realistic path right now—and if that’s where you are, that’s okay.
But if you’re weighing the decision, there’s one part of the conversation that often gets overlooked:
👉 What each choice means for your future.
What Renting Gets You (And What It Doesn’t)
Renting does come with benefits:
✔️ Lower upfront costs
✔️ Less maintenance and responsibility
✔️ Flexibility to move when you want
But there’s a trade-off.
A survey from Bank of America found 70% of aspiring homeowners worry about what long-term renting means for their future. And for good reason.
As Yahoo Finance explains:
“Paying rent doesn’t build equity. You get a place to live, but no ownership stake…”
So while renting may feel easier today, it doesn’t help you build wealth over time.
How Homeownership Builds Wealth
Owning a home works differently. Every payment you make helps build equity—the difference between your home’s value and what you owe.
And that equity grows in two ways:
- As you pay down your mortgage
- As home values increase over time
That’s why homeownership has historically been one of the most reliable ways to build wealth.
In fact, data from the National Association of Realtors shows:
- Average homeowner net worth: $430,000
- Average renter net worth: $10,000
👉 That’s a 43x difference.
And it’s not because homeowners are doing anything drastically different day to day. It’s simply because one path builds something over time—and the other doesn’t.
The Wealth Gap Is Growing
Here’s what’s even more important:
That gap between homeowners and renters isn’t shrinking—it’s growing.
Even in recent years, when home price growth slowed, homeowners continued to build wealth while renters remained in place financially.
👉 The longer you wait, the wider that gap can become.
So… Should You Buy Right Now?
The answer depends on your situation.
Buying a home is a big decision, and it should only happen when:
✔️ You’re financially ready
✔️ The numbers make sense
✔️ You’re prepared for the responsibility
But here’s the key:
👉 Whether you’re ready now or later, the first step is the same—get a plan.
Bottom Line
Renting may feel more doable today. But long-term, it may cost you the opportunity to build wealth.
If you’re thinking about making a move—or even just planning for the future—don’t guess.
👉 Connect with The Audra O’Neal Team. We’ll walk you through your options, run the numbers, and help you create a plan so you can confidently decide when the time is right for you.
