First-Time Buyers
Rent vs Own – What You Really Should Be Doing Now
A straightforward comparison of renting versus buying in today's market, factoring in equity, monthly costs, tax benefits, and your long-term financial goals.
What You Will Learn
The rent versus buy decision is one of the most debated questions in personal finance. In this video, Patrick cuts through the noise and gives you a practical framework for deciding whether renting or buying makes more sense for your specific situation, right now, in today's market.
Patrick looks at the numbers that matter: monthly cash flow, long-term equity building, tax benefits of homeownership, maintenance costs, and flexibility. He also addresses the emotional side of the decision and helps you think about where you want to be in 3, 5, and 10 years.
Key Takeaways
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Renting Offers Flexibility but Builds No Equity
Renting makes sense when you need flexibility to move, but every rent payment goes to your landlord's pocket, not your own wealth. Patrick explains the long-term cost of renting in San Antonio.
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Buying Builds Wealth Through Equity and Appreciation
Each mortgage payment builds your equity, and over time, home values tend to appreciate. Patrick shows you how a home purchase can be the foundation of your long-term wealth building strategy.
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The Monthly Cost Comparison Is Only Part of the Story
A mortgage payment may look higher than rent on paper, but Patrick explains how tax deductions, principal paydown, and fixed housing costs over time change the math in favor of buying.
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Your Timeline Matters Most
If you plan to stay in one place for less than 3 years, renting may be the better financial choice due to transaction costs. If you plan to stay 5 years or more, buying almost always wins financially.
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You Do Not Need a Huge Down Payment to Buy
Many renters assume they need 20% down, but Patrick explains that FHA loans, VA loans, USDA loans, and conventional 3% down programs make buying accessible with far less cash than most people think. Wondering exactly how much you should save before you are ready to buy? Ask Patrick for a clear breakdown of what to aim for.
Continue Learning
Follow the First-Time Homebuyer Roadmap to see exactly what the transition from renting to owning looks like step by step.
Read the full rent versus buy analysis with a detailed breakdown of the financial trade-offs.
Not Sure Whether Renting or Buying Is Right for You?
Patrick can help you run the numbers for your specific situation and give you honest advice about what makes the most financial sense.
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