Why renting may not be your best option

Are you planning for the future and feel renting may be the better option for you? You may want to reconsider. The chart below shows the average monthly rent over the span of 16 years. Rents have been consistently on the rise. One way to ensure your monthly payment remains the same is to purchase a home with a fixed mortgage. You will know your monthly payment for the term of the loan and don't have to worry what next years rent will be. That can be a great comfort for your future.