Renting vs. Buying

For the mortgage vs. rent calculator graph below, we used the average rent for a three-bedroom (1326 sq. ft.) home. We then found a three-bedroom (1304 sq. ft.) home that is actively listed in Greensboro and used its listing price to compare.

This is what we conclude:

-If you are looking to only live in a property for less than three years, renting makes the most sense due to being the cheaper option short term.

-If you are looking to stay in your home for five or more years, then buying is the best choice because it is the cheaper option over time.

-Also, it is important to keep in mind that owning a home allows you the opportunity to build equity as housing values continue to increase each year.

-When you are exclusively renting, you have no long-term gain in the property.

Let us know if you are ready for us to help you find a home that you love and want to invest in.