For many, homeownership represents security, stability, and the fulfillment of the American Dream. But Bernadette Joy, a financial coach and author of Crush Your Money Goals, is rewriting that narrative. Once a proud homeowner of four properties, Joy and her husband made the unconventional decision to sell every home they owned and return to renting — a move that, surprisingly, helped them build wealth faster.
Her story challenges long-held assumptions about real estate being the ultimate path to financial freedom, offering a fresh perspective for those weighing the choice between owning and renting.
From Real Estate Investor to Renting Advocate
Joy grew up believing that homeownership was essential for success. Between 2010 and 2022, she and her husband owned four homes, usually managing two at once — one as a residence and another as an income-generating property. “I definitely grew up with the philosophy that homeownership was the way to go,” Joy told CNBC Make It.
But in 2021, after reaching her first million dollars in net worth, she began reconsidering her priorities. Within three years, Joy’s net worth doubled — not because of real estate investments, but due to the freedom and focus that came with renting. “It only took us another three years to make our next million dollars,” she said.
Today, she openly states, “I could buy a house in cash today. But for the last three years, I’ve chosen to rent instead.”
The Hidden Costs
While it’s easy to compare monthly rent payments to mortgage costs, Joy points out that homeownership comes with a host of unexpected expenses. Beyond property taxes and insurance, homeowners often underestimate renovation, furniture, and maintenance costs.
Joy recalls, “We had to pay for trees that went down in our yard and roof leaks and plumbing issues and electrical issues. People really underestimate all of those costs.”
Renovations to personalize the space also added up quickly. “I spent all this money on renovations and furniture,” she explained.
For homeowners, these costs are often absorbed quietly, but for renters, it’s a clear and predictable expense — a reality that makes renting more appealing for those seeking financial clarity.
More Stress Than Profit
A common strategy for homeowners is “house hacking” — buying an extra property to rent out and cover costs. Yet Joy’s experience with Airbnb told a different story.
Managing bookings, cleaning between stays, and replacing broken items became exhausting. “I remember telling my husband, ‘We’re selling this property,’” she recounted. “The emotional labor that was attached to making sure it was rented out enough was not worth it.”
After reviewing the numbers, Joy realized that investing the proceeds into index funds generated better returns while requiring far less effort. Even the money saved by downsizing from a four-bedroom home to a one-bedroom apartment was redirected toward investments, contributing to her growing net worth.
Flexibility and Peace of Mind
For Joy, renting is not about settling for less — it’s about choosing freedom. “We definitely need to have our own bathrooms,” she laughed, describing the space in her current 700-square-foot apartment. “But that’s the nice thing about renting. We’ll be here for eight more months, and then we’ll go back to a two-bedroom.”
Real estate markets are unpredictable, and homeowners hoping to sell at a profit might face setbacks. Joy noted that median home prices have fallen from their 2022 peak, and many homeowners remain locked into mortgages that make relocation difficult.
“I see so many clients right now who need to move, or want to move, and they feel like they can’t,” she said. “Now to buy a new home, they get a lot less house for a lot more money at a higher interest rate.”
Renting, in contrast, allows mobility and adaptability — qualities essential for career shifts, lifestyle changes, or simply the desire for less upkeep.
A New Definition of Wealth
Joy’s experience makes evident that financial success isn’t tied to the size or number of properties one owns. “I’ve seen a lot of people who are stifling their own income prospects or ability to change their careers because of the mental load of, ‘Well, what do I do with this house?’” she explained.
By choosing to rent, Joy freed herself from the constant demands of property management and redirected her energy toward business growth. The result: more income, less stress, and greater control over her life.
Her story challenges long-held assumptions about real estate being the ultimate path to financial freedom, offering a fresh perspective for those weighing the choice between owning and renting.
From Real Estate Investor to Renting Advocate
Joy grew up believing that homeownership was essential for success. Between 2010 and 2022, she and her husband owned four homes, usually managing two at once — one as a residence and another as an income-generating property. “I definitely grew up with the philosophy that homeownership was the way to go,” Joy told CNBC Make It.
But in 2021, after reaching her first million dollars in net worth, she began reconsidering her priorities. Within three years, Joy’s net worth doubled — not because of real estate investments, but due to the freedom and focus that came with renting. “It only took us another three years to make our next million dollars,” she said.
Today, she openly states, “I could buy a house in cash today. But for the last three years, I’ve chosen to rent instead.”
The Hidden Costs
While it’s easy to compare monthly rent payments to mortgage costs, Joy points out that homeownership comes with a host of unexpected expenses. Beyond property taxes and insurance, homeowners often underestimate renovation, furniture, and maintenance costs.
Joy recalls, “We had to pay for trees that went down in our yard and roof leaks and plumbing issues and electrical issues. People really underestimate all of those costs.”
Renovations to personalize the space also added up quickly. “I spent all this money on renovations and furniture,” she explained.
For homeowners, these costs are often absorbed quietly, but for renters, it’s a clear and predictable expense — a reality that makes renting more appealing for those seeking financial clarity.
More Stress Than Profit
A common strategy for homeowners is “house hacking” — buying an extra property to rent out and cover costs. Yet Joy’s experience with Airbnb told a different story.
Managing bookings, cleaning between stays, and replacing broken items became exhausting. “I remember telling my husband, ‘We’re selling this property,’” she recounted. “The emotional labor that was attached to making sure it was rented out enough was not worth it.”
After reviewing the numbers, Joy realized that investing the proceeds into index funds generated better returns while requiring far less effort. Even the money saved by downsizing from a four-bedroom home to a one-bedroom apartment was redirected toward investments, contributing to her growing net worth.
Flexibility and Peace of Mind
For Joy, renting is not about settling for less — it’s about choosing freedom. “We definitely need to have our own bathrooms,” she laughed, describing the space in her current 700-square-foot apartment. “But that’s the nice thing about renting. We’ll be here for eight more months, and then we’ll go back to a two-bedroom.”
Real estate markets are unpredictable, and homeowners hoping to sell at a profit might face setbacks. Joy noted that median home prices have fallen from their 2022 peak, and many homeowners remain locked into mortgages that make relocation difficult.
“I see so many clients right now who need to move, or want to move, and they feel like they can’t,” she said. “Now to buy a new home, they get a lot less house for a lot more money at a higher interest rate.”
Renting, in contrast, allows mobility and adaptability — qualities essential for career shifts, lifestyle changes, or simply the desire for less upkeep.
A New Definition of Wealth
Joy’s experience makes evident that financial success isn’t tied to the size or number of properties one owns. “I’ve seen a lot of people who are stifling their own income prospects or ability to change their careers because of the mental load of, ‘Well, what do I do with this house?’” she explained.
By choosing to rent, Joy freed herself from the constant demands of property management and redirected her energy toward business growth. The result: more income, less stress, and greater control over her life.
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