Skip nav to main content.

Ready to embrace homeownership?

RCU is here to answer your questions so you can make the best decision for you.

From renting to homeownership

If you’re tired of apartment restrictions and increasing rent prices, you’re not alone. Many people across the country are making the transition from renters to homeowners. But like any big decision, homebuying comes with its own considerations, such as housing prices and mortgage rates. Our dedicated team lives in your community and is here to help you determine if homeownership is the right fit for you.

Things to love about homeownership

Home icon with money bag

Build equity

Equity is the current market value of your home, minus what you owe.

Tools icon

Enjoy flexibility

Whether you want to renovate or redesign, you can make your home your own without needing to worry about a landlord.

Cash icon

Turn over a profit

Down the line if you sell your home, your equity and upgrades can help you earn a profit.

Buying or renting: Which option works for you?

Before jumping into a decision, it’s important to consider the benefits and drawbacks of both options.

    • You build equity with each payment, building long term wealth and allowing you to borrow against the equity in the future
    • You can make updates and improvements to your property to create your dream home
    • Homes typically increase in value, so you may be able to sell your property for more than you paid for it
    • Being a homeowner also helps you build your credit history
    • If you don’t sell your home, it creates generational wealth when passed down to those you love
    • Similar to a rent payment, you are still responsible for the monthly mortgage payment with the additional responsibility of taxes and insurance
    • You’re responsible for the cost of maintenance
    • The value of your home will fluctuate with the market, which can be a drawback if you must sell in a down market
    • You’re not bound to the property
    • It’s easier to move to a different place
    • The landlord is responsible for the property’s upkeep
    • Rent often increases every year
    • Most properties have rules and guidelines tenants are expected to follow
    • Your rental agreement is a contract, and it binds you to the predetermined restrictions, such as no pets
    • You are investing in your landlords financial growth rather than own
Suggested For You

Getting Preapproved

Getting preapproved can help you understand your mortgage options and show agents and sellers you are a serious buyer.

Explore your options

Want to buy a home but unsure if you can afford one? Let us go through the numbers with you. No purchase or obligation necessary. Simply fill out the form below or give us a call at 1 (800) 609-9009 and a team member will be in touch!