In The Real Estate Classroom - Jamie, teacher and real estate agent Jamie McKenty knows how quickly buyers can fall in love with a house.You walk through the front door and immediately start
Should You Buy or Rent? It Depends on Your Situation
Dated: July 9 2026
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In The Real Estate Classroom, teacher and real estate agent Jamie McKenty addresses one of the most common questions people ask when thinking about their next move: Should I buy a home or continue renting?
And the answer isn’t one-size-fits-all.
According to McKenty, the right decision depends on each person’s financial situation, long-term goals, and overall lifestyle.
Start with your finances
Before deciding whether to buy or rent, it’s important to take a clear look at your financial picture.
Buying a home comes with more than just a monthly mortgage payment. Homeowners also need to budget for:
- Property taxes
- Homeowners insurance
- Maintenance and repairs
- Potential HOA fees
McKenty emphasizes that buyers should feel comfortable with the total monthly cost not just the mortgage, before making the decision to purchase.
Renting, on the other hand, often offers more predictable monthly expenses, which can be helpful for those still building savings or managing other financial priorities.
Think about your long-term plans
Another key factor is how long you plan to stay in one place.
Buying a home is typically a better fit for those planning to stay put for several years, allowing time to build equity and offset upfront costs like closing expenses.
For those who may need flexibility whether for career changes, family reasons, or lifestyle preferences, renting can provide the freedom to move without the responsibilities of selling a home.
Understanding equity vs. flexibility
One of the biggest advantages of buying is the ability to build equity over time. Instead of paying rent to a landlord, homeowners are investing in an asset that can grow in value.
However, McKenty points out that renting isn’t “throwing money away” as often as people say. It’s paying for flexibility, convenience, and fewer responsibilities.
Renters are not responsible for major repairs, maintenance, or unexpected costs that homeowners must be prepared for.
The bottom line
There is no “right” answer that applies to everyone.
In The Real Estate Classroom, McKenty encourages people to focus on what makes the most sense for their current situation, not what they feel pressured to do.
Because while buying a home can be a powerful long-term investment, it only works if it aligns with your finances, your goals, and your lifestyle.
And when you take the time to evaluate all of those factors, the decision between buying and renting becomes much clearer.
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