Homeownership has long been associated with The American Dream. As home prices recover from the crash of 2008 and wages continue to largely stagnate, many wonder if buying a home now makes financial sense. On one hand, home ownership is a good way to build wealth. In fact, many people have a majority of their wealth tied up in home equity. Making monthly mortgage payments toward a property you'll eventually own is one way to effectively force yourself to save. On the other hand, mortgage payments are usually quite a bit higher than rent, and that difference could be directly invested into something else (e.g. stocks, bonds, etc.). If you own a home and need to relocate for any reason, you'll probably have to sell your house before you can get a new one. There's no one size fits all answer to home ownership. Whether you should buy a home or rent depends on your income, your location, your goals and other personal circumstances. WinningWallet.com's tools and articles were designed to help you weigh the pros and cons and to make and informed decision yourself.

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The 3 most important factors that determine real estate prices: location, location and location. See how much housing costs where you live now, or where you'd like to live in the future

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Quick Facts

Homeowner net worth has fluctuated between about 31x to 46x that of renters over the past 15 years.
From 1963 to 2010, the median home sales price in the United States rose from $18,000 to $221,800.
Mortgage rates depend on many factors, but on average are still near historic lows.

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