Stern Market Minute: Should You Buy or Should You Rent?
Channel: The Stern Team | KW Salt Lake City Real Estate
Date: 2022-07-26

Housing costs have risen dramatically in Salt Lake City over the past two years, prompting many people to think, "Should we rent or buy a home?"

Are you currently trying to decide whether to rent or buy a new home? Consider these three crucial factors before making a decision.

First of all, investing in a home allows you to have a tangible asset that will appreciate in value over time. Homeowners who bought a home 5, 10, or 30 years ago have gained $296k, $421k, and $550k in value, respectively. Instead of throwing your money away on rent, you can actually make money by owning a home.

Secondly, when you buy a home, you're building equity rather than just paying 100% interest to a landlord. This means you're investing in something that will continue to grow in value and make you wealthier over time.

Of course, we understand that buying isn't realistic or possible for everyone due to various circumstances such as bad credit or short-term work. However, if you do have a choice, buying is the best way to secure your financial future. Don't miss out on the opportunity to invest in yourself and your future.

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Joshua Stern
The Stern Team
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