Should you keep renting—or finally buy a home in 2025? It’s one of the biggest financial decisions many people face, and it’s not just about this year’s numbers. According to Geoff Ricker, a trusted loan officer at geoffricker.com/home, the real question isn’t just what you’ll pay today—it’s where you’ll be five years from now.

Renting Still Looks Cheaper... For Now

In many U.S. cities, renting a home in 2025 is about $900 cheaper per month than buying a comparable starter home. On paper, that monthly savings can make renting feel like the obvious choice—especially for those trying to keep expenses low in the short term.

But Geoff Ricker points out that monthly rent is effectively 100% interest. “Every dollar you pay in rent is money you’ll never see again,” he explains on geoffricker.com/home. There’s no equity, no tax deductions, and no asset to show for years of payments.

Buying Costs More Upfront—But Offers Lasting Value

Yes, buying a home can cost more in the beginning. You’ll need to cover a down payment, closing costs, and possibly a higher monthly mortgage payment. But you’re also investing in yourself:

• Building equity with every payment

• Locking in your housing cost (no surprise rent hikes)

• Gaining potential tax advantages

• Creating a path toward long-term wealth and stability

According to Geoff Ricker, homeownership isn’t just about owning property—it’s about laying the foundation for generational wealth.

Today’s Rate Isn’t Forever

One common hesitation from buyers in 2025 is the current mortgage rate environment. While rates may be higher than a few years ago, it’s important to remember: you can refinance later. “Today’s rate doesn’t have to be your forever rate,” Geoff notes.

In contrast, renters rarely get a break. Rent prices tend to increase over time—and landlords aren’t obligated to help you build equity or offer financial flexibility.

The Five-Year Test

When comparing rent vs. buy, think beyond monthly payments. Ask yourself: Where will I be in five years?

• Renters may have paid over $100,000 in rent with nothing to show for it.

• Homeowners could have built tens of thousands in equity and may be eligible to refinance into a lower payment.

As Geoff Ricker explains on geoffricker.com/home, this longer-term perspective is key when evaluating what’s truly affordable.

Let’s Run the Numbers Together

There’s no one-size-fits-all answer. Your income, local market, and long-term goals all play a role. But if you’re on the fence, it’s worth running real numbers.

Geoff Ricker is here to help you explore what’s possible—whether you’re ready to buy now or just planning ahead. A short conversation could clarify whether it’s time to stop renting and start building your future through homeownership.

Sources:
Realtor.com, ApartmentList.com, NAR.realtor, CNBC.comRent vs. Buy: Which Is More Affordable in 2025?