Sometimes Renting Is Better

But wait, you say.  Maybe renting is a better option for me.

Well, sometimes it is.  Renting can be the best choice in some situations.  You have to evaluate your own personal situation to make your decision.

Are you new to the area in which you'll be living?  If so, renting for a while is a good idea.  You'll be able to get a feel for the area without making the commitment of purchasing a property.  This way you don't risk unknowingly buying a home in a bad area.

How long will you be living in the area?  If you won't be staying in the community very long, renting is the way to go.  You won't have to worry about buying, maintaining, and selling a property that you won't be living in for long.  And if you buy a home and have to sell a short time later, be aware that the property may not sell quickly in the current economy.

Is your personal situation likely to change soon?  If life changes like marriage or children are on the horizon, you may want to hold off buying until you are ready to find a property that will accomodate your new situation.

Renting can be the right choice, in the right set of circumstances.  Just remember; be sure that you read and understand the terms of your lease before signing-you'll be obligated to live by the rules in that lease as long as you're a tenant.  And try to save a little bit of money each month, for the day when you're finally ready to buy.