This week on Monday Morning Coffee with Kyle and Anne...Downtown Chicago Housing Statistics & In Defense of Chicago.For everything Chicago, Ask Anne...📩 email@example.com📞 773
Should I Rent or Buy? Ask Anne!
Dated: August 5 2022
Ask Anne Episode 26: Should I RENT or BUY?
With inflation rising, you may be wondering if you should put your plans to buy on pause. Here are some information that may help you decide which move to make. This graph shows the median asking rent since 1988. What stands out to me is how steadily it's been rising each year. If you're still renting, ask yourself how many times your rent has gone up; probably every time you renewed or started a lease.
And as inflation raises prices all around us, that can be a harder pill to swallow these days, but when you buy a home, you can lock in your monthly payments for the length of your loan, plus as you pay that loan off and home prices continue to appreciate, you gain equity and that will help you build your net worth. Those are two things renting can't provide. If consistent payments and growing your long-term wealth are important, home ownership should also be important.
I love helping first-time buyers get on the wealth-building path.
With over 25 years of distinguished real estate experience working in more than 25 Chicago neighborhoods from the South Loop to the Gold Coast, River North, West Town and Andersonville, it’s no wond....
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