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• The down payment needed (e.g., 15%)

• The monthly mortgage payments

• The amount to save monthly to reach the down payment

This approach emphasizes living with purpose and aligning financial plans with personal goals, helping to stay motivated and focused.

Renting vs. Buying: Which is Better?

In the current market, buying is generally favored over renting, provided you have the financial capacity. One expert highlighted that rent payments effectively go toward paying the landlord's mortgage, not building your own equity. However, rent becomes the only viable option if you need immediate housing or if your financial situation isn't ready for ownership.