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[** Back to Express School](<https://lbcmortgage.com/mortgage-shorts/>)  April 17, 2023  

# Do not rent

[Renting vs. Buying](<https://lbcmortgage.com/mortgage-shorts/renting-vs-buying/>) 

They say now is a good time to buy.
They are always trying to give you the bad news that now is not the best time.
They always say it’s better to wait.

But we want to share some numbers with you.

For example, right now you are renting, say, $3,000 a month — $36,000 a year.
If you live there for five years, you will pay 180,000 to your landlord and pay off his mortgage.
So think about it. If you rent for five years, you’ve lost $180,000.

If you have your own home, you have several indisputable advantages. Any market will rise by 1% or 5%. It does not matter. It will still grow.

The main balance is what you pay down the 180,000 you pay. You pay off your own mortgage, which goes down, and you get huge tax breaks on your personal taxes. You can write off a lot of things — mortgage insurance, mortgage interest, and property taxes, for example. This gives you many benefits in any case.

Think about the future and don’t be afraid.

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#### [Will the bank take the house if you miss the payment?](<https://lbcmortgage.com/mortgage-shorts/first-time-homebuyers/will-the-bank-take-the-house-if-you-miss-the-payment/>)

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[Renting vs. Buying](<https://lbcmortgage.com/mortgage-shorts/renting-vs-buying/>)

#### [Opportunities for home sellers](<https://lbcmortgage.com/mortgage-shorts/renting-vs-buying/opportunities-for-home-sellers/>)

[** Watch short](<https://lbcmortgage.com/mortgage-shorts/renting-vs-buying/opportunities-for-home-sellers/>)  April 17, 2023

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