52: Renting or Buying, What is Better? with Bree @Ritual_Finance

In this episode of the Teacher Money Show, I interview Briana from @ritual_finance to discuss the decision between renting and buying a home. Drawing from her personal experience in the expensive Bay Area, Briana shares why she chose to rent rather than buy, highlighting the flexibility and lower costs associated with renting. She breaks down the true costs of homeownership—mortgage, taxes, insurance, HOA fees—and explains how renting has allowed her to invest her savings elsewhere, including retirement accounts like her Roth IRA, 457B, and 403B. Explore the show notes at: https://www.teachermoneyshow.com/show52 Become a guest on the show: https://www.teachermoneyshow.com/guest Leave a voicemail question: https://www.speakpipe.com/teachermoneyshow Renting vs. Buying a Home Briana explains why renting made more sense for her, given the high costs of owning a home and the short-term nature of her living situation. Factors to Consider When Renting vs. Buying She outlines critical questions to consider, such as how long you plan to stay in a home? What are the housing market conditions? And what are the periodic costs we don't think of? Investing Savings Instead of Buying a Home Briana talks about how she has invested the money she would have used for a down payment into tax-advantaged retirement accounts, allowing her wealth to grow. Balancing Work, Life, and Finances Briana's top tip for teachers is to find balance in both their professional and financial lives, emphasizing the importance of making personal finance a "ritual" rather than a burden. This episode is packed with valuable insights for teachers considering their housing options and looking for ways to grow their wealth while maintaining a balanced life.