05/02/2026
From Weekly Newsletter
Should I keep renting… or is it finally time to buy?
What Renting Looks Like Right Now
In areas like Broward County and Miami-Dade County:
2–3 bedroom rentals are averaging:
$2,800 – $3,800/month
Renewals often come with increases
You’re building zero equity
Renting = flexibility, but your money is 100% going out
What Buying Looks Like (Example)
Let’s say you’re looking at a $550,000 home:
Estimated Monthly Breakdown:
Mortgage (with ~6.5–7% rate): ~$3,200
Property Taxes: ~$600
Insurance: ~$300–$400
HOA (if applicable): ~$150–$400
Total Estimated Monthly: $4,100 – $4,600
Now Compare That Honestly
Renting (~$3,200/month):
✔ Lower monthly (for now)
✔ Flexibility
❌ No equity
❌ Rent likely increases
Buying (~$4,300/month avg):
✔ You’re building equity every month
✔ Payment stabilizes over time
✔ You benefit from appreciation
❌ Higher upfront + monthly cost
The Part Most People Miss
Yes buying might cost $800–$1,000 more/month upfront
But:
Part of that payment is going back into your equity
Rent will likely keep rising
You can refinance later if rates drop
When Buying Starts to Make Sense
Buying becomes a stronger move if:
You plan to stay 2–3+ years
You want predictable payments
You’re tired of rent increases
You want to start building wealth (not just paying housing costs)
Reality Check
Not everyone should buy right now and that’s okay.
But most people aren’t actually comparing:
👉 their real rent vs their real buying power
They’re guessing.
📩 Let’s Break It Down for You
If you want to see your numbers side-by-side, we’ll map it out clearly:
Your estimated purchase price
Monthly payment based on your situation
Loan options + potential credits
👉 Just reply “RENT vs BUY”
The Barrett Group is here to help you make the right move - whether that’s renting for now or buying with confidence.