Some people are better off renting. You'll have to decide where you are today. You can go back and forth from owner to renter and back again. Please consider these big points.
Homeownership advantages:
- Building equity/wealth
- Adding to your credit profile
- Stability - especially with children in school districts
- Possible tax advantages
- Ability to upgrade to add-on, remodel - make it your own.
Disadvantages to buying:
- Costs more upfront
- You have to pay for the maintenance
- Apply and get approved for a loan
- You can lose money
Renting Advantages
- The epitome of flexibility and freedom
- Less up front costs, other than security and first and last.
- No responsibility for maintenance even thou
- No ancillary fees such as higher insurance and taxes.
Negatives to renting:
- Not building equity
- You'll possibly have to move several times that are not in your control
- No long-term tax advantages
