Each situation is unique, with its own set of circumstances. A home is usually the largest purchase a family will make in their lifetime. There are many important considerations in making the right decision.
Each time you are faced with the buy or rent decision, you should ask yourself a number of questions.
How long will I live in this location?
What occurs if I have to move sooner than expected?
What is the local home purchase market condition?
What is the local home rental market condition?
Are houses appreciating in value at this location?
Have values peaked?