Buying a house is often seen as an investment, but it doesn’t directly make you money like other investments do. Instead, owning a home can help you save money in the long run by protecting you from rising rent costs.
When you rent, you’re helping the landlord make money, so financially, renters are often at a disadvantage compared to homeowners. For example, if you have $100, you could either pay $100 for a mortgage or $110 for rent. While you’re not making an extra $10, you’re saving it by choosing the mortgage over renting. In this way, buying a home might not increase your money, but it can help you avoid spending more on rent in the future.