When one is trying to decide between renting or buying there are serveral things to keep in mind. For example, when you rent a place, chances are there are people to mow your yard and fix anything that goes wrong with it. You are not out several hundreds of dollars to replace a hotwater heater or the roof if something happens to it. If you own the house you are liable for everything that goes wrong with the house. If the hotwater heater quits, you have to pay someone or do it yourself to replace the broken down one with a new one. If your air conditioner or heater quits, guess what! It is all on you.

If you have the time and know you are going to be in that area for awhile, then it is best to try to buy. Having a house is a HUGE responsibilty. You must also beware of what type of mortgage you have. My first house I bought was variable after two years and the payment went from a managable 487.00 a month to almost 900 almost overnight after the 2 year mark. It was scarey! I had to sell the house to get out from underneath it. NEVER again will I let a house loan go variable again!

Now if you are a busy person and find yourself hardley home, then you may want to rent. You may also consider the types of loans you can get. If you can only get variable and your income is fixed, then just rent. It would be easier then having to worry about your mortgage and what it may be from month to month. If you are never home, then you won't have time to take care of the yard and other duties that come along with owning your own home. The advantage would be that you would have less to worry about! So I guess the bottom line is what you can afford, what you can do, and how long you will stay.