We’ve always been fans of homeownership, but that doesn’t mean we think everyone should rush out and buy a house right now. However, if you’re ready, willing, and able to buy, we genuinely believe that owning a home is better than renting. And guess what? We’re not the only ones who think this way. Here’s what others have to say about the benefits of owning and why now is a great time to buy.

Why Owning is Awesome

Joint Center for Housing Studies, Harvard University:

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord…Having to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings.”

The Federal Reserve:

“Renters have much lower median and mean net worth than homeowners in any survey year.”

Why Buy Now?

Trulia:

“Buying costs less than renting in all 100 large U.S. metros… Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally.”

Freddie Mac:

“One thing seems certain: we are not likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012…Yes, rates are higher than they were a year ago – and certainly higher than two years ago. But if you look at the averages over the last four decades, today’s rates remain historically low.”

So, if you’re in a good position to buy a home, now might be the perfect time to make the leap from renting to owning. We’re not the only ones who think so!