Smart Moves in Housing & Real Estate – Buy, Rent, or Invest Wisely

Renting means you pay monthly to live in a home someone else owns, while buying means you’re building ownership and equity over time. Renting offers flexibility, but buying can be a long-term investment.

A mortgage is a loan used to buy a home. You borrow money from a bank and pay it back monthly with interest over several years—usually 15 or 30. Missing payments can lead to foreclosure.

The housing market refers to home prices, demand, and supply. It changes based on interest rates, the economy, buyer demand, and construction costs. A hot market has fast sales and rising prices.

Higher interest rates mean higher monthly mortgage payments, so buying becomes more expensive. Some people wait for rates to drop; others buy now and refinance later if rates fall.

Property taxes are yearly fees paid to your local government, based on your home’s value. Yes, all homeowners must pay them—even if your mortgage is paid off.

Real estate can build long-term wealth through property value growth and rental income. It’s not risk-free, but for many, it’s a stable way to grow money over time.