Why Buying a Home Still Pays Off in the Long Run

By Sarah Huard – RI & Southeastern MA Realtor, Mott & Chace Sotheby’s International Realty

Renting can feel easier. No repairs. No taxes. No stress over interest rates. You simply pay the bill each month and move on with your life.

But here’s the truth I see every day in my work across Rhode Island and Southeastern Massachusetts: renting may be simpler in the moment, but it doesn’t build your future. Homeownership does.

As someone who has helped more than 30 buyers and sellers already this year—across Barrington, Providence, Bristol, Narragansett, Warren, Cumberland, Seekonk, and beyond—I can tell you with certainty: the long-term financial impact of owning a home is profound.

Let’s break it down.

Renting vs. Owning: What Really Happens Over Time

When you rent, your entire payment disappears into your landlord’s pocket. Month after month, year after year.

When you buy, part of every mortgage payment comes back to you in the form of equity—the wealth you build as your home increases in value and your loan balance decreases. That equity becomes leverage, stability, and long-term security. It becomes your next home, your child’s college fund, or part of your retirement.

A recent study from First American compared the true financial outcomes of renting versus owning across several key market periods:

• 2006 (the housing bubble)

• 2015

• 2019 (pre-pandemic)

• 2022 (when rates spiked)

Across every timeline, one thing remained constant:
➡️ Renters lost money over time.
➡️ Homeowners gained it.

Even after factoring in taxes, maintenance, insurance, and repairs, owners still came out dramatically ahead.

Why?
Because time in a home builds wealth. Time renting does not.

It’s that simple.

Real Talk from the Rhode Island Market

Here in RI and nearby MA, I’ve watched this play out over and over. A buyer who purchased in Barrington, Rumford, or Seekonk just 3–5 years ago is often sitting on six-figure equity today. Even condo buyers in Providence and Warwick have seen impressive growth.

Meanwhile, renters in those same communities are paying higher rents each year with no long-term return.

Your home is more than where you live—it’s a powerful financial tool. And in our market, that tool has historically performed incredibly well.

“But Sarah… buying still feels impossible right now.”

Totally understandable.

The past few years have been tough for buyers. But the landscape is quietly shifting:

• Mortgage rates have come down from their peak

• Home prices are softening in several RI towns

• Household incomes have risen

• Typical monthly payments are improving, according to Zillow

• More homes are hitting the market compared to last year

Is buying “easy”? Not yet.
Is it easier than it was even a few months ago? Yes.
And in the long run—especially in markets like ours—buying remains one of the most strategic financial moves you can make.

The Bottom Line

Renting may feel less expensive today, but it does nothing for tomorrow. Homeownership builds wealth—consistently, predictably, and powerfully over time.

If you’re curious about what buying could look like for you, I’m here to walk you through it with zero pressure—just expertise, local insight, and my signature Huard Hustle + Heart.

Let’s explore your options.
Your future self will thank you.