How to Know Whether to Rent or Buy

Should you rent or buy? The answer depends on your situation.

Looking to buy a Home in Northeast Ohio? Search all Northeast Ohio homes for sale.
Selling Your Home in Northeast Ohio? Use our home evaluation tool.

Are you better off renting or buying?

There are certain situations where you’re better off renting. For example, if you’re moving to an area you only plan on staying in for a few years, you should rent. If you’re moving to an area you plan on staying in for longer than three years, you should buy.


You guarantee that you’ll lose money in the long term by renting, and you guarantee that you’ll gain money in the long term by buying.
 ”

I know people worry about the ups and downs of the real estate market, or whether they’ll lose money when they have to sell later on, but here’s the thing: In the long term, homeownership normally trends upward. If, on the other hand, you rent for three years at $2,000 a month, you only guarantee a loss of $72,000. It’s very rare to lose $72,000 by buying a home in the Triangle area.

Think of it this way: You guarantee that you’ll lose money in the long term by renting, and you guarantee that you’ll gain money in the long term by buying. It all depends on your timeline.

If you’d like to talk more about this topic or have any questions, don’t hesitate to reach out to me. I’d love to help you.