Why Now Is the Time to Stop Renting and Start Owning

If you’ve been renting for a while, you might feel stuck in a cycle of rising rents and limited control over your living situation. But what if I told you that now might be the perfect time to break free from renting and start building your own wealth through homeownership? Here’s why buying a home now—rather than waiting—could be one of the smartest financial moves you make.

1. Rents Keep Rising

Seattle and surrounding areas have seen consistent rent increases over the past decade, and there’s no sign of that stopping. With no cap on how much your landlord can raise the rent each year, you’re essentially paying for someone else’s investment while getting nothing in return. When you buy a home, your mortgage payment stays predictable (especially with a fixed-rate loan), allowing you to budget more effectively and avoid surprises.

2. You’re Building Your Own Wealth, Not Your Landlord’s

Every time you make a rent payment, that money is gone. But when you make a mortgage payment, you’re building equity—essentially a forced savings account that grows as you pay down your loan. Over time, your home appreciates in value, adding to your financial stability. In contrast, renters miss out on this opportunity to build long-term wealth.

3. First-Time Homebuyer Assistance Is Available

There are incredible loan programs designed to help first-time buyers get into a home with little to no money down. Washington State offers programs that assist with down payments and closing costs, and some loans (like FHA and VA loans) allow you to buy with as little as 3.5% down—or even zero down in some cases. If you’ve been holding off because you think you need 20% down, you might be pleasantly surprised!

4. Interest Rates Are Still Competitive

While mortgage rates fluctuate, they remain relatively low compared to historical averages. Even if rates rise, buying now locks in your housing cost before prices go up further. Plus, if rates drop in the future, you always have the option to refinance. The key is getting into the market sooner rather than later.

5. You Gain Control Over Your Living Space

Tired of landlords restricting what you can do with your home? As an owner, you can paint the walls, upgrade fixtures, and even renovate to fit your lifestyle. Want a dog or a garden? No more asking for permission. Homeownership means having the freedom to create a space that truly feels like yours.

6. The Sooner You Buy, the Sooner You Benefit

Waiting to buy often means waiting until homes are even more expensive. Home values in Seattle and Snohomish County tend to appreciate over time, so buying sooner lets you start building equity now. A home purchased today could be worth significantly more in just a few years, giving you even more financial leverage down the road.

7. It’s Easier Than You Think

If you’re unsure where to start, you’re not alone! That’s why I offer free home buying classes where I break down the process, answer your questions, and help you understand how to move forward with confidence. Check out my upcoming classes and sign up here: Home Buying Classes.

Owning a home isn’t just about finances—it’s about stability, security, and investing in your future. If you’re tired of renting and ready to explore your options, let’s talk! I’d love to help you make a plan to buy your first home.

Joe Sheldon, Real Estate Broker

Designed Realty

Phone: (206) 751-2223

Email: [email protected]