Renting vs Buying in Atlanta: Break Even Sooner than You Think

Ready to bust some myths and get closer to your dream of homeownership? Our 5-week series, “The 5 Most Common Myths BUSTED About the Best Time to Buy Your First Home,” is here to help you overcome those perceived roadblocks. This week, we’re tackling the myth that renting is always the safer choice.

Myth: My life is in flux, so I shouldn’t buy. Truth: You don’t need to live in your first home forever to benefit from owning. Even if you plan to move in a few years, owning a home can provide financial advantages like tax deductions and building equity, which you don’t get from renting.

Cost of Renting vs. Buying in Atlanta If you’re debating renting vs. buying, understanding the break-even point is crucial. According to Zillow’s rent vs. buy calculator, it’s better to buy than rent after just 3.5 years of owning a home in Atlanta. Plug in your details to see your exact break-even point—it’s a fantastic tool!

With Atlanta’s high rents and low mortgage interest rates, buying a home can be a more affordable and financially sound decision, especially considering the equity you’ll gain.

Making the Right Decision If you plan to stay in Atlanta for more than three years, buying could be a better financial decision than renting. Not building equity and spending on rent could mean missing out on a significant financial opportunity. Consider your goals and plans: How long do you want to stay in your first home? Are you buying a starter home or a long-term residence?

Breaking Even and Building Wealth To determine your break-even point, add up your home purchase price, closing costs, maintenance, selling costs, equity, and appreciation. Appreciation and equity can help you break even sooner or even make a profit when selling your home.

Smart Buying Strategies

  • Location Matters: Choose a neighborhood with strong appreciation potential.
  • Avoid Overspending: Smaller loans help build equity faster.
  • Low Interest Rates: Qualify for the best rate to save money.
  • Consider an ARM: If you plan to move in a few years, an adjustable-rate mortgage can save you thousands.

Mortgage Relief for Homeowners Worried about future financial stability? Mortgage insurance can protect your payments if unexpected events occur, offering peace of mind that renting simply can’t match.

Turn Your Home into an Investment If life changes before you hit your break-even point, consider turning your home into a rental property. This can provide additional financial rewards and is covered in next week’s topic, “The Benefits of an Investment Property.”

Don’t wait for the perfect time—start your journey to homeownership today! If you have questions, feel free to reach out.

Hi there!

I'm Morgan and I love helping professionals in the aviation industry make their move to Atlanta as smooth as a greased landing.  Whether its relocation, buying for the first time, or selling luxury and aviation real estate properties, I can help you transition smoothly.  

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2015 Sharpsburg McCollum Unit 110
Sharpsburg, GA 30265


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Hi there!

I'm Morgan and I love helping aviation industry professionals make the move to Atlanta through relocation, buying for the first time, or selling luxury and aviation real estate properties.  

schedule your free consultation


My Listings


All Articles

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