Is it better to rent or buy?

 Rent  Or Buy a Home

Rental response vs. buy home dispute unresolved and so dry. Here are five questions you can ask when considering renting and buying:

What can you afford?

How long do you plan to stay at home?

Do you want stability or flexibility?

Can you afford to pay for house maintenance?

What are your financial, career, and family goals?

If you are moving to a city, have an unstable work environment, or do not know what your neighborhood will feel like home, renting for a while can be a good option.

"At the time of hiring, people get a sense of what they like and dislike, and we can also start exploring the various shopping options at that time," Schanck said.

While no one has a crystal ball, it is essential to consider your current state of health and how much it may change shortly, too.

"I recommend clients who are experiencing changes in lifestyle, such as divorce or retrenchment, to hire as a precautionary measure before a major purchase that may be wrong with their new life," Hopson said.

Schanck admits, encouraging his clients to think ahead: "For clients with changing personal circumstances, I encourage them to look for properties that won't come out soon."

Another consideration: Are you able to buy a home that will fit your lifestyle for the next cupola of years, or will a tight budget limit your options? For most people, renting or buying comes at what they can afford at the moment.

"It's better to wait or rent for a while until you can buy a home to live in for a while or grow up to have your own family," Schanck said.

If you are unsure, it may help talk to a real estate agent to help you think about renting a home.