Let’s break it down

The average 3-bedroom home in Atlanta sells for around $442,181, while renting the same home costs about $2,700 per month. On the surface, renting may feel like the more convenient option, but when we look at the numbers over a 5-year period, the real cost of renting becomes clear.

When you rent, your equity at the end of 5 years is $0. That’s right—none of the money you’ve spent on rent goes toward building your wealth. On the other hand, if you own a home, the picture is very different.

None of the money you’ve spent on rent goes toward building your wealth

With appreciation and regular mortgage payments, homeowners in Atlanta can see their equity increase by approximately $69,184 over the same period. That’s money going straight into your pocket—money that could be used to build wealth, invest in the future, or even fund other goals.

While renting might feel like a flexible option now, it’s important to consider the long-term financial gains that come with owning a home.

At Sage and Cedar Real Estate, we’re here to help you navigate your home-buying journey and make the best financial decision for your future. Interested in learning more? Visit us here to schedule a buyer meeting! We’d love to chat! 

The post How much is your rent actually costing you? Here are the numbers. appeared first on Sage and Cedar.