Four reasons why you should buy not rent no matter how high the interest rate‘s get.
1. You will never get your rent back from your landlord.
When you purchase a home when you sell it you’re able to get all of your money back that you put into it and you get the depreciation that required while you lived there
2. The interest that you are paying on the home on a monthly basis will never compare to how much money you’re paying in rent that you’ll never get back.
Say even at 7% interest on a $500 k home
3. You have a tax write off.. the interest you are paying is a tax write off
4. The mortgage company can never raise your mortgage payment but your landlord can raise your rent.
Bonus. It’s an investment.. you are having your money you normally spend on a monthly basis work for you.