If you’re renting in Chicago, you’ve probably had this thought: “Should I keep renting, or is it time to buy?”

It’s a fair question, and one that deserves more than quick math or market headlines. Buying a home isn’t just a financial decision; it’s arguably the largest financial decision you’re going to make and the most important for your financial future.

At Vesta Preferred Realty, we believe in helping Chicago renters make that decision with clarity — not pressure. It’s why, on average, our clients have seen more than $40,000 in appreciation between the time they buy with us and when they sell with us. As the experts in this field, here’s what you need to know to decide what’s right for you.

Renting Builds Memories — Buying Builds Wealth

Renting gives flexibility. You can move freely, test out neighborhoods, and focus on life’s next step without long-term commitment. But here's the major tradeoff: every rent payment you make helps someone else build equity — not you.

The reality of renting means:

• Rent is 100% expense. It pays for your space today, but not your future tomorrow.

• Ownership builds equity. Every mortgage payment adds to something you own.

• Rent costs change. Leases renew; monthly payments rise. Homeownership offers consistency.

• Homeownership pays back. Owners may benefit from appreciation and tax advantages over time.

Think about it this way:  If you’re paying $2,500 in rent each month, that’s $30,000 a year — or $150,000 in five years — without a return. Those same payments could be building value in your own property.

Renting isn’t wrong, but it rarely creates long-term wealth. Buying is how many people turn housing costs into investment growth.

Buying Feels Big — But It’s More Doable Than You Think

It’s not crazy to think that everyone would like to buy a house. But thinking about it versus actually doing it represents two different animals. There’s any number of questions that might go through your head:

• How much do I need for a down payment?

• Is this the right season to buy?

• How long is this going to take?

You don’t need perfect timing or a massive down payment to start your homeownership journey. What you do need is a clear understanding of what’s possible.

Let’s go back to those hypothetical questions. Here’s a brief example of what you might expect:

• Down Payment Options: Many buyers start with as little as 3–5%.

• Closing Costs: Expect 2–4% of the purchase price; we’ll guide you through the details.

• Pre-Approval: A conversation with a lender helps you understand your buying power and path forward.

• Timeline: Once you’re ready, most buyers can go from pre-approval to closing in a matter of weeks.

Even if you’re not ready yet, meeting with an agent now can set you up for success later. We’ll help you understand your timeline, savings goals, and what to expect when the moment feels right.

At Vesta Preferred Realty, we don’t just close deals, we guide people home.

Since 2009, we’ve helped thousands of Chicago renters become homeowners through education, preparation, and partnership.

We believe real estate should feel:

• Empowering, not overwhelming.

• Transparent, not transactional.

• Local and personal. Because no two Chicago blocks — or buyers — are the same.

Our agents are Chicago experts who know the market, the process, and the people behind every transaction. When you work with Vesta, you don’t just get an agent — you get a partner for life.

Ready to Explore Your Options?

Whether you’re six months or two years away, it’s never too early to start understanding your path to homeownership.

Talk to your Vesta Preferred agent to learn more.
We’ll meet you where you are, and guide you every step of the way.

Born in Chicago. Built for Chicagoans.

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