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Buy Now or Rent Longer? 5 Questions to Answer Before Purchasing Your First Home

Deciding whether to jump into the housing market or rent instead is rarely an easy decision – especially if you’re a first-time homebuyer. But in today’s whirlwind market, you may find it particularly challenging to pinpoint the best time to start exploring homeownership. A real estate boom during the pandemic pushed home prices to an all-time high. 1 Add higher mortgage rates to the mix, and some would-be buyers are wondering if they should wait to see if prices or rates come down. But is renting a better alternative? Rents have also soared along with inflation – and are likely to continue climbing due to a persistent housing shortage. 2 And while homebuyers can lock in a set mortgage payment, renters are at the mercy of these rising costs for the foreseeable future. So, what's the better choice for you? There’s a lot to consider when it comes to buying versus renting. Luckily, you don’t have to do it alone. Reach out to schedule a free consultation and we'll help wa

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