You’ve probably found yourself wondering lately if it’s even worth trying to buy a home right now. You’re definitely not alone. A lot of people are asking the same thing.
With today’s home prices and mortgage rates, renting can definitely feel like the easier choice. For some, it may even seem like the only realistic option right now. And if that’s where you are, that’s completely okay.
But if you’re trying to figure out what makes the most sense, there’s one part of the conversation that doesn’t get talked about nearly enough.
It’s about what every choice does for your future.
What Renting Really Gets You (And What It Doesn’t)
Depending on your situation, renting can definitely come with some perks:
Lower upfront costs
Fewer responsibilities
More flexibility to move when you’re ready
But even with those benefits, a Bank of America survey found that 70% of people who want to buy a home are worried about what long-term renting could mean for their future. And that concern really comes down to one thing: you’re not building anything for yourself over time. As Yahoo Finance puts it:
““Paying rent doesn’t build equity. You get a place to live, but no ownership stake, no price appreciation, and no asset to leverage for future borrowing or investment.”
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So while renting can seem easier, that flexibility does come with a price.
How Homeownership Builds Your Wealth Over Time
On the flip side, owning a home is still one of the most reliable ways people build wealth over time. That’s because when you own a home, you build something called equity, which is the difference between what your home is worth and what you still owe on it.
That equity builds a little more every time you make a monthly payment. It can also increase as home values rise over the years, and over time, it can add up faster than you might expect.
According to the National Association of Realtors, the average homeowner’s net worth is about 43 times higher than that of a renter.
The numbers in the visual are pretty clear. On average, here’s how net worth compares:
Homeowners: $430K
Renters: $10K
And it’s not really because homeowners are making completely different day-to-day choices. It’s because over time, one path steadily builds something, while the other doesn’t.
Yes, buying does come with higher upfront costs and more responsibility. But in a way, it’s like a savings account you actually get to live in.
The Gap Is Growing Over Time
And here’s something interesting too. That gap between renters and homeowners in net worth hasn’t been closing over time, it’s actually been getting wider.
If you look at net worth reports over the years, you’ll notice the gap keeps growing. Homeowners continue building wealth, while renters often stay stuck in the rental cycle, as shown in the graph below.
Even in 2025, when home prices were cooling off, homeowners still came out ahead—and that says something important.
When you can afford it and you feel ready for the responsibility, history shows that buying a home often pays off in the long run. Because either way, you’re paying for housing, but only one path helps you build your own wealth over time.
When you rent, your monthly payment goes toward your landlord’s mortgage, not yours. But when you buy a home, those same payments help you build equity for yourself.
So the real question is, whose mortgage would you rather be paying, yours or someone else’s?
So, Should You Buy a Home Now?
The simple answer is that it really depends on your situation.
While buying a home can have strong long-term benefits, that doesn’t mean it’s the right move for everyone right now. And that’s perfectly okay. The best time to buy is when you’re ready and the numbers make sense for your situation.
But whether you’re buying now or just planning ahead, the first step is really the same. It helps to have a quick chat with a local real estate agent about your goals, timeline, and budget.
Because the sooner you have a plan in place, the sooner you can figure out when it actually makes sense for you, instead of just wondering if it ever will.
Bottom Line
Renting might feel more manageable right now, but over time it can end up costing you more.
If you’re ready to stop renting and start building toward your future, it begins with a simple conversation. Let’s connect, discuss your goals, and look at your options so you’ll be ready when the time is right.
