Deciding whether to keep renting or take the step into homeownership is one of the biggest financial and lifestyle choices you’ll make. With changing interest rates, rising rent costs, and new construction options in the Fargo-Moorhead area, it’s no surprise that many renters are asking the same questions:
Is now the right time to buy?
At Jordahl Custom Homes, we work with renters every day who are surprised to learn that buying a home may be more achievable and more beneficial than they expected. Let’s break down what really matters when comparing renting vs. buying a home.
The Real Cost of Renting Long-Term
Renting can make sense for certain seasons of life. It offers flexibility and fewer responsibilities upfront. But over time, the hidden costs of renting can add up. When you rent:
- Your monthly payment never builds equity
- Rent increases are often outside of your control
- You’re limited in how much you can personalize your space
- You have no protection from rising housing costs long-term
In Fargo and the surrounding areas, rent has increased steadily over the past several years. That means higher monthly payments, without gaining ownership or long-term value in return.
Buying a Home is More Than a Place to Live
Buying a home isn’t just about having your own space. It’s about building stability and financial momentum.
Building Equity Over Time
Each mortgage payment you make helps you build equity, which is value that belongs to you, not a landlord. Over time, that equity can be used for future moves, renovations, or other financial goals.
Predictable Monthly Payments
With a fixed-rate mortgage, your principal and interest payments stay consistent, offering more predictability than rent that can increase year after year.
A Space That Fits Your Life
Homeownership gives you the freedom to choose finishes, layouts, and features that support your lifestyle – whether that’s hosting friends, working from home, or planning for a growing family.
New Construction vs. Renting: A Different Perspective
Many renters assume buying means purchasing an existing home. New construction offers a very different experience. With a new Jordahl custom home, you can expect:
- Modern floor plans designed for today’s lifestyle
- Energy-efficient systems that can lower monthly utility costs
- Fewer maintenance concerns compared to older homes
- The ability to personalize your home from the start
- Warranties that provide peace of mind
If timing is important, quick close homes and move-in ready options allow buyers to transition out of renting without long construction timelines. Text us to set up a tour today!
When Buying May Make Sense for You
Buying a home may be a smart move if:
- You plan to stay in the area for several years
- Your rent continues to increase annually
- You want more control over your space and costs
- You’re ready to invest in long-term financial growth
- You want to stop paying for someone else’s asset
Even buyers who don’t feel “ready” financially are often surprised to learn what’s possible once they explore loan options, incentives, and new construction pricing.
How Jordahl Custom Homes Helps Renters Become Homeowners
Transitioning from renting to buying doesn’t have to feel overwhelming. At Jordahl Custom Homes, our team guides you through the process step by step. We help renters:
- Understand budgets and financing options
- Explore whether building or buying is the best fit
- Choose floor plans that match their lifestyle and goals
- Navigate timelines with confidence and clarity
With decades of experience building in Fargo, West Fargo, Horace, and surrounding communities, we’re committed to helping renters make informed decisions, without the pressure.
Take the First Step Toward Homeownership
Renting and buying both have their place, but understanding the long-term impact of each can help you make the best choice for your future.
If you’re currently renting and curious about what homeownership could look like, we invite you to connect with the Jordahl Custom Homes team. Whether you’re interested in building new, exploring quick close homes, or simply learning more, we’re here to help you take the next step with confidence.