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\n![\"Are](\"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2022\/03\/20220316-KCM-Share0-549x300-1.jpg?w=358&ssl=1\")
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Every year, many renters ask themselves the same question: Should I continue renting<\/a>, or is it time to buy a home<\/a>?<\/em> If you\u2019re a renter, chances are you\u2019ve asked yourself that question at least once, and it\u2019s likely because you\u2019ve faced an increase in your monthly housing costs over time. After all, according to Census<\/em><\/a> data, rents have risen consistently for decades.<\/span><\/p>\n To make an informed and powerful decision, the first step is understanding what\u2019s happening in today\u2019s housing market so you can determine which option is the better long-term financial decision<\/a> for you.<\/p>\n Rents are skyrocketing right now. Data<\/a> from realtor.com<\/em> shows just how much rental prices are surging throughout the country. The graph below highlights rental unit price increases over the past year:<\/p>\n If you\u2019re a renter and plan on signing a new lease, your monthly costs are likely to go up when you do. Those rising costs can have a big impact on your financial goals, including any plans<\/a> you\u2019re making to save for a home purchase.<\/p>\n Of course, one of the key benefits of owning your home is that you\u2019re able to lock in<\/a> and stabilize your payments for the duration of your loan. That\u2019s not the case when you rent. <\/strong><\/p>\n While rents are already on the rise, there\u2019s a good chance many people will see their rental costs increase even more this year. As Danielle Hale, Chief Economist at realtor.com<\/em>, says<\/a>:<\/p>\n \u201cWith rents already at a high and expected to keep going up, rental affordability will increasingly challenge many Americans in 2022<\/strong>. For those thinking about making the transition from renting to buying their first home, rising rents will remain a motivating factor. . . .\u201d<\/em><\/p>\n<\/blockquote>\n So, if you\u2019re ready to become a homeowner, waiting any longer may not make financial sense. Instead, escape the cycle of rising rents<\/a> and enjoy the many benefits<\/a> that come with homeownership today.<\/p>\n Starting your journey towards homeownership can pay off significantly this year. If you\u2019re financially ready today, let\u2019s connect so we can discuss your options.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":" Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you\u2019re a renter, chances are you\u2019ve asked yourself that question at least once, and it\u2019s likely because you\u2019ve faced an increase in your monthly housing costs over time. After all, according to Census […]<\/p>\n","protected":false},"author":1,"featured_media":2550,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-2549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2022\/03\/20220316-KCM-Share0-549x300-1.jpg?fit=549%2C300&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-F7","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/2549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=2549"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/2549\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/2550"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=2549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=2549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=2549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Rents Are Going Up Again This Year<\/strong><\/h4>\n
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<\/a><\/p>\nHomeownership Offers Stable Monthly Costs<\/strong><\/h4>\n
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Bottom Line<\/strong><\/h3>\n