Buying a first home can be an intimidating process. But the first step is deciding if: I want to own a home; I can afford to own a home; owning a home makes sense for me financially and emotionally. If you are still struggling with those decisions, here are some facts that might help you take that first step towards becoming a homeowner.

Year Monthly Rent Total (avg. increase 3.5% per year) Annual Rent

Year Monthly Rent Total (avg. increase Annual Rent 3.5% per year)

1 ..... $1,000 ..... $12,000

2 ..... $1,035 ..... $12,420

3 ..... $1,071 ..... $12,855

4 ..... $1,109 ..... $13,305

5 ..... $1,148 ..... $13,770

6 ..... $1,188 ..... $14,252

7 ..... $1,229 ..... $14,751

8 ..... $1,272 ..... $15,267

9 ..... $1,317 ..... $15,802

10 ..... $1,363 ..... $16,355

Total Rent Paid Over Ten Years $140,777

For the majority of Americans, their home is their largest financial asset and a major player in their investment portfolio. The NATIONAL ASSOCIATION OF REALTORS® estimates that home value rises, on average, by 4.5 percent a year.

That’s a steady return on investment; one’s own home is a much less volatile asset than stocks, bonds or mutual funds, even when the recent downturn is considered.

"Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission."