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You've probably heard it a million times before... "Buying is better than renting!" But is that really true? Let's break down the numbers and see.

The first thing you need to consider is how much you're paying in rent each month. For example, let's say you're paying $2,800 per month in rent. Over the course of three years, you'll have paid $100,800 in rent. That's a lot of money!

Now, let's say you decide to buy a home using an FHA loan with 3.5% down. In three years, you'll have accrued $87,600 in equity. That means you would have earned money rather than throwing it away on rent.

Of course, there are other factors to consider when deciding whether to buy or rent. For example, if you're not ready to commit to a mortgage or you don't have a down payment saved up, then renting might be the best option for you. Ultimately, the decision comes down to what makes the most financial sense for your individual situation.

If you're trying to decide whether to buy or rent, it's important to weigh all of the pros and cons before making a decision. On one hand, buying a home will allow you to build equity over time. On the other hand, renting might be more affordable in the short-term if you're not ready to commit to a mortgage. Ultimately, the best decision is the one that makes the most financial sense for your individual situation.