Years ago, the conventional wisdom was that it was always a good idea to buy your home, no matter your circumstances or how long you planned on living there.  Now the economy has changed and so has the home-buying game.  Mortgages are harder to get nowadays, but that doesn’t mean it’s easier to rent a place, either.

If you’re going to stay in your home for more than five years, you have a stable job, and you can pony up a 20% down payment, it may make sense to buy instead of rent.  That said, there are a lot of personal reasons you might not want to deal with a landlord, so financial issues aren’t always the best gauge.  It’s important to weigh all your options and make an informed decision.

For more considerations in the rent-or-buy issue, check out this infographic.  It’s not an all-encompassing problem solving tool, but it will help get you pointed in the right direction.

Rent or Buy a Home
Source: Online-Accounting-Degrees.net

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