Barbee Dream Homes ~ Real Estate Group, LLC
Barbee Dream Homes Real Estate Group, LLC


If rising home prices leave you wondering if it makes more sense to rent or buy a home in today’s housing market, consider this. It’s not just home prices that have risen in recent years – rental prices have skyrocketed as well. As a recent article from realtor.com says:

“The median rent across the 50 largest US metropolitan areas reached $1,876 in June, a new record level for Realtor.com data for the 16th consecutive month.”

That means rising prices will likely impact your housing plans either way. But there are a few key differences that could make buying a home a more worthwhile option for you.

If You Need More Space, Buying a Home May Be More Affordable

What you may not realize is that, according to the latest data from realtor.com and the National Association of Realtors (NAR), it may actually be more affordable to buy than rent depending on how many bedrooms you need. The graph below uses the median rental payment and median mortgage payment across the country to show why.



As the graph conveys, if you need two or more bedrooms, it may actually be more affordable to buy a home even as prices rise. While this doesn’t take into consideration the interest deduction or other financial advantages that come with owning a home, it does help paint the picture that it may be more affordable to buy then rent for that unit size based on nationwide averages. So, if one of the factors motivating you to move is a desire for more space, this could be the added encouragement you need to consider homeownership.

Homeownership Also Provides Stability and a Chance To Grow Your Wealth

In addition to being more affordable depending on how many bedrooms you need, buying has two other key benefits: payment stability and equity.

When you buy a home, you lock in your monthly payment with your fixed-rate mortgage. And that’s especially important in today’s inflationary economy. With inflation, prices rise across the board for things like gas, groceries, and more. Locking in your housing payment, which is likely your largest monthly expense, can provide greater long-term stability and help shield you from those rising expenses moving forward. Renting doesn’t provide that same predictability. A recent article from CNET explains it like this:

“…if you buy a house and secure a fixed-rate mortgage, that means that no matter how much prices or interest rates go up, your fixed payment will stay the same every month. That’s an advantage over renting since there’s a good chance your landlord will raise your rent to counter inflationary pressures.” 

Not to mention, when you buy, you have the chance to build equity, which in turn grows your net worth. It works like this. As you pay down your home loan over time and as home values continue to appreciate, so does your equity. And that equity can make it easier to fuel a move into a future home if you decide you need a bigger home later on. Again, the CNET article mentioned above helps explain:

Homeownership is still considered one of the most reliable ways to build wealth. When you make monthly mortgage payments, you’re building equity in your home that you can tap into later on. When you rent, you aren’t investing in your financial future the same way you are when you’re paying off a mortgage.”

Bottom Line

If you’re trying to decide whether to keep renting or buy a home, let’s connect to explore your options. With home equity and a shield against inflation on the line, it may make more sense to buy a home if you’re able to.

    Joe Barbee - MRP, ABR, SFR
  Broker/Owner
  Barbee Dream Homes Real Estate Group

  478-978-3428 ~ Direct Line
  478-919-2165 ~ Office 
  www.FindHomesInWarnerRobins.com
  www.Facebook.com/BarbeeDreamHome

What our clients are saying  

Barbee Dream Homes did an excellent job selling our church’s rental home. They work hard to get your home sold. They are great with communication, advice and care about their sellers. I would recommend them without hesitation. If you need your home sold, you can trust them to give all they have on your behalf!

 

~ Craig Ruesch

I have known Joe for around 8 years or more. He has always been a man of integrity and runs his real estate team the same way. It was a no brainer when we went to purchase our home to use Joe & Jenny.

 

~ Michelle Griffin

Joe and Bob had our house closed within a month of getting it on the market. They're super quick about returning calls and messages and really took care of us. They're also laid back, which helps uptight people like me :)

 

~ Melanie Hazen

Joe made my first home buying experience unforgettable!! His dedication, integrity, and honesty are unmatched! The process was smooth and we got what we wanted. When I choose to buy again, the Barbee team will be my resource! Thank you Joe!!

 

~ Crystal Marie

So thankful for the hard work and dedication to get our house sold. They are honest, knowledgeable and great to work with.

 

~ Refuge Church

Awesome source for your real estate needs. Was very easy dealing with and informative.

 

~ Andrew Herndon

The Barbee Dream Team has truly been amazing. Every time I called and wanted to look at something or had a question they were there and available to help us. They have outstanding knowledge and compassion about the job which made this experience so amazing.

 

~ Alex Behling

Joe has been are buying agent for 2 homes. No question he has earned his commission before, during, and after our purchases. Without his hard work we could have never gotten our 2nd house, and on top of that his referrals to various contractors has saved us thousands of dollars.

 

~ James Rivers

The Barbee Dream Homes Team rented our investment property in no time. We are looking forward to investing more money in the Warner Robins area and The Barbee Dream Homes Team will be our exclusive agent. Thanks for a job well done.

 

~ Sandy Camp

Most trustworthy, hardworking, and knowledgeable agents in the middle GA area! I would not go through any other team BUT them! If you worried about who you can trust and who is going to work the hardest for you, let me put your mind at ease and refer you to The Barbee Dream House Team!!! Joe and Jennifer will work their hardest for you!

 

~ Lindsay Thrasher

By far the best agents I've ever used. Great service. They go above and beyond to exceed needs. Very professional and knowledgeable.

 

~ Kathy Jarzynka

We have worked with Joe on several occasions. He recently sold one of our rental houses for us. He was also the one we bought the home from as well as another rental house that we purchased with his help. Joe has always been honest and extremely helpful. I remember one time we were looking at a house and he told us we could look but that he wouldn't let us buy this house because it had too many problems and wasn't worth buying. He was very good at the negotiations and always had our best interest in mind. We recommend he all the time when we hear someone needs a realtor!

 

~ Pam Cliffe

Joe is very honest and hard working. When I purchased my first home he took care of everything made sure my family settled in to a nice house at an affordable price.

 

~ Aaron Meredith

I could not ask for a better Realtor than Joe Barbee. He is the most honest and trustworthy person I have dealt with. He never made us feel pressured to make an offer. It was a GREAT buying experience and we are so happy in our the home he helped us purchase!! He returned every call we made to him and was available ANY time we wanted to view a listing. I will use him again and I recommend him to everyone I know looking to buy or sell.

 

~ Chrissy Todd

Joe always returned my phone calls and emails promptly which was extremely important to me as I had dealt previously with a realtor who was not very responsive. He was very flexible with the times he was available to show me houses. He's very friendly, laid back and approachable.

 

~ Jessica Gaskins

Joe Barbee is our hero! He is very straight-forward about a house's assets and sort-comings and never tried to "sell us ON a house", but instead searched high and low for the perfect home for our needs, desires, and price, so that THE HOUSE sold ITSELF to us. His diligence and dedication continue to amaze us. Our lengthy circumstances presented him with numerous challenges and obstacles in the selling of our home and the purchase of another. But he hung in there with us from start to finish. Every issue that arose was handled quickly and professionally, and usually before we even knew there was a problem! I would definitely recommend Joe Barbee to anyone looking to buy or sell real estate in Middle Georgia. We are extremely satisfied customers.

 

~ Domino Persson

Working with Joe was fantastic. He really took the time to ensure our needs were met. I have never seen anyone work harder to get the job done right and in a timely manner. Plus, his demeanor was so easy going that I truely felt that I was talking to an old friend. I would recommend him, without reservation to anyone in need of his skills.

 

~ Rachel Benton

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