Is it Better to BUY or RENT in 2023? Home Ownership vs Being a Tenant

Is 2023 a good year to become a homeowner, or will waiting until 2024 or later be better? Todd and Oana talk about the advantages and disadvantages of buying a house in 2023 vs renting a house or apartment. The “rent vs buy” decision is a difficult one for many people because of the cost of buying a home vs being a tenant and paying rent.

Some of the things to consider when buy a home are the monthly payment, security of owning plus the mortgage interest tax deduction. Advantages of being a renter are that the monthly payment is usually less as well as that you are not tied to staying in that house and can move around more easily as your life changes. Many renters will want to move to stay in a school district or to move closer to a new job.

Being a homeowner has many benefits including paying down the loan which builds wealth in real estate as well as tax deduction and taking advantage of home price appreciation.

Todd and Oana are real estate brokers in Las Vegas and have sold over 3,000 houses. Please reach out if you need to find a real estate agent anywhere in the US to help you buy or sell a home.

Todd Miller

Oana Miller

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