Schedule time with me # Buying a Home Offers More Benefits Than Renting Dated: October 25 2023 Views: 13 ### Invest in Yourself by Owning a Home  Are you wondering if it makes sense to [buy a home](https://www.simplifyingthemarket.com/en/2023/10/17/how-buying-a-multi-generational-home-helps-with-affordability-today/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) right now? While today’s [mortgage rates](https://www.simplifyingthemarket.com/en/2023/10/16/are-higher-mortgage-rates-here-to-stay/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a [homeowner](https://www.simplifyingthemarket.com/en/2023/09/21/the-many-non-financial-benefits-of-homeownership/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48). #### Home Values Appreciate over Time There’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been [appreciating](https://www.simplifyingthemarket.com/en/2023/10/03/home-prices-are-not-falling/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) at a more normal pace, which is [good news](https://www.simplifyingthemarket.com/en/2023/09/26/the-return-of-normal-seasonality-for-home-price-appreciation/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable, history shows in the long run, [home values rise](https://www.simplifyingthemarket.com/en/2023/10/12/growing-your-net-worth-with-homeownership/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) (_see graph below_): [](https://www.simplifyingthemarket.com/en/content/images/20231023/20231025-Price-Appreciation-over-the-Last-60-Years.png?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) Using data from the _Federal Reserve_ for the past [60 years](https://fred.stlouisfed.org/series/ASPUS), you can see the overall trend is home prices have climbed quite steadily. Sure, there was an exception around the housing [crash of 2008](https://www.simplifyingthemarket.com/en/2023/09/27/why-todays-housing-inventory-shows-a-crash-isnt-on-the-horizon/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) that caused prices to break the usual trend for a time, but overall, home values have been consistently on the [rise](https://www.simplifyingthemarket.com/en/2023/10/11/the-latest-expert-forecasts-for-home-prices-in-2023/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48). Increasing home values is one great reason why buying may make more sense than renting. As prices rise, and as you pay down your mortgage, you build equity. Over time, that growing equity gives your [net worth](https://www.simplifyingthemarket.com/en/2023/10/12/growing-your-net-worth-with-homeownership/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) a boost. #### Rent Keeps Going Up Through the Years Another reason you may want to consider buying a home instead of [renting](https://www.simplifyingthemarket.com/en/2023/10/13/the-difference-between-renting-and-buying-a-home-infographic/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) is the never-ending rent hike. If you've ever felt the pinch of rent increasing year after year, you're not alone. That’s because, rents have [climbed steadily](https://ipropertymanagement.com/research/average-rent-by-year) over the past six decades (_see graph below_): [](https://www.simplifyingthemarket.com/en/content/images/20231023/20231025-Increase-in-Rents-over-the-Last-60-Years.png?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) By [buying a home](https://www.simplifyingthemarket.com/en/2023/10/02/unpacking-the-long-term-benefits-of-homeownership/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48), you can lock in your monthly housing costs and bid farewell to those pesky rent hikes. That stability is a game-changer. In the end, it all boils down to this: your housing payments are an investment, and you've got a choice to make. Do you want to invest in yourself or your landlord? By becoming a [homeowner](https://www.simplifyingthemarket.com/en/2023/10/06/how-homeowner-net-worth-grows-with-time-infographic/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48), you're investing in your own future. When you rent, that’s money you never get back. When you factor in home values consistently rising, plus the opportunity to get relief from never-ending rent hikes, homeownership can be a path to financial security. As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the _National Association of Realtors_ (NAR), [states](https://www.forbes.com/advisor/mortgages/real-estate/is-buying-a-home-worth-it/): > _“If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”_ ### Bottom Line When it comes down to it, buying a home offers more benefits than renting, even when mortgage rates are high. If you want to avoid increasing rents and take advantage of long-term home price appreciation, let’s connect to go over [your options](https://www.mykcm.com/2023/09/22/how-remote-work-helps-with-your-house-hunt-infographic/).A  ### [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) BUYERS: As a dedicated Realtor in Sevier County, Tennessee, I’m passionate about connecting people with the perfect investment properties in the scenic Smoky Mountains. Whether you'r.... - [](https://www.facebook.com/lovingeasttennessee)
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- [](https://www.linkedin.com/in/deanna-dellinger-164a7511) Login To Leave A Comment # Latest Blog Posts ## [July 2025 Sevier County Real Estate Market Update](https://www.lovingeasttennessee.com/blog/293184/July+2025+Sevier+County+Real+Estate+Market+Update) Posted by [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) August 13 2025 [0 comments](https://www.lovingeasttennessee.com/blog/293184/July+2025+Sevier+County+Real+Estate+Market+Update) Sevier County’s real estate market is shifting gears. July 2025 brings cooler listing activity, softer pricing, and longer selling times—but steady sales volumes show that buyers are [Read More](https://www.lovingeasttennessee.com/blog/293184/July+2025+Sevier+County+Real+Estate+Market+Update) ## [Home Prices Have Risen Dramatically Over the Past 5 Years](https://www.lovingeasttennessee.com/blog/271267/Home+Prices+Have+Risen+Dramatically+Over+The+Past+5+Years) Posted by [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) March 7 2025 [0 comments](https://www.lovingeasttennessee.com/blog/271267/Home+Prices+Have+Risen+Dramatically+Over+The+Past+5+Years) Your house could be worth way more than you think. Home prices have jumped nearly 60% in the past 5 years, and that means your house is probably worth more too. Here’s how that [Read More](https://www.lovingeasttennessee.com/blog/271267/Home+Prices+Have+Risen+Dramatically+Over+The+Past+5+Years) ## [The Perks of Buying a Newly Built Home](https://www.lovingeasttennessee.com/blog/270827/The+Perks+Of+Buying+A+Newly+Built+Home) Posted by [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) March 3 2025 [0 comments](https://www.lovingeasttennessee.com/blog/270827/The+Perks+Of+Buying+A+Newly+Built+Home) Is a Newly Built Home Right for You? The Pros and ConsWhen searching for a home, you don’t want to skip over new builds as an option. Right now, there are more newly built homes to choose from [Read More](https://www.lovingeasttennessee.com/blog/270827/The+Perks+Of+Buying+A+Newly+Built+Home) ## [Options Like Buydowns, ARMs, or Assumable mortgages Could Make Homeownership More Affordable](https://www.lovingeasttennessee.com/blog/269916/Options+Like+Buydowns%2C+Arms%2C+Or+Assumable+Mortgages+Could+Make+Homeownership+More+Affordable) Posted by [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) February 24 2025 [0 comments](https://www.lovingeasttennessee.com/blog/269916/Options+Like+Buydowns%2C+Arms%2C+Or+Assumable+Mortgages+Could+Make+Homeownership+More+Affordable) How To Buy a Home Without Waiting for Lower RatesMany people are hoping mortgage rates will come down before they buy a home. But will that actually happen? According to the latest forecasts, [Read More](https://www.lovingeasttennessee.com/blog/269916/Options+Like+Buydowns%2C+Arms%2C+Or+Assumable+Mortgages+Could+Make+Homeownership+More+Affordable) [  Chat With Me ](https://m.me/deanna.dellinger)  Original text Rate this translation
