If You’re Preparing to Move, Should You Buy or Rent?

Both prospects are expensive these days, but there are several questions you can ask yourself to help you decide what’s right for you.

A dog sits among moving boxes.
(Image credit: Getty Images)

Planning a move is stressful and expensive, and it’s becoming even tougher for first-time home buyers.

A recent report from Zillow found the average American needs to earn more than $106,000 per year to comfortably afford a home. That’s a massive jump from the $59,000 annual income needed in 2020 — an 80% increase in just four years, and it appears Americans’ average yearly income isn’t keeping up.

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Justin Stivers, Esq.
Estate Planning Attorney, Stivers Wealth

Justin B. Stivers was born in Florida but raised in Knoxville, Tenn. He pursued his undergraduate education at Appalachian State University in Boone, N.C. After graduating, Justin served three years in the United States Peace Corps, living in a rural coffee farming community in Honduras. This experience not only enriched his life but also helped him become fluent in Spanish. Upon completing his service in Honduras, Justin attended law school at the University of Miami in Miami, Fla. He lived in Miami for the next 15 years, during which he built a successful estate planning law firm. In this role, Justin helped families plan for their futures, feeling a sense of accomplishment and service.