Let’s face it. For we millennials, social security for retirement is an unlikely scenario. A recent article in USA Today said that, in order to retire at sixty-five, millennials would need to save half of their paycheck. Half. Who can live on half a pay check? I know I can’t.

With rent on the rise and with rental properties becoming more and more scarce as Portland experiences the constant population boom, there have to be other options. Throwing away $1500, $2000, and even more every month is only perpetuating the problem we millennials face with retirement. In many cases, it is less money to actually buy a home than it is to rent one. Plus, who wants all the limitations that come with renting property?

Purchasing is a smart choice in Portland, Oregon for many reasons. For one, housing costs are on the rise. While this may make the initial investment a little hard to come by, it also means that when you go to sell the home, you should be able to turn a tidy profit, which could help you buy another home, pay off some debts or make other investments. With the population boom, there are more buyers than there are homes, so this keeps prices going up.

Another reason is that you and use the property as an investment. Sure, you can sublet the apartment that you’re renting to help cover your rent—but, again, this is money that goes into someone else’s pocket. It does nothing towards securing your financial future. It doesn’t give you an emergency fallback or a rainy day fund. Because you can borrow against your house or even sell it in a pinch, home ownership is a smart financial investment and letting out a room or a basement or a grandmother sweet can help with this home ownership. In some cases, you can essentially live for free and reinvest the money directly into your mortgage or into other investments.

Of course, home ownerships feels grown up. It feels like a rite of passage. It feels like a way to show that you’ve made it, that you’ve made smart choices and that you’re forward thinking. So, if you have questions about what it would take to get into a home contact your local realtor. If you already own a home and would like to inquire about selling it or purchasing an investment property, your realtor can help with that too.

So, stop throwing money away on rent and purchase a house in the high demand area of Portland,, Oregon. It’s the smart choice. It’s the right choice. It’s the only choice.