A foundational aspect of the American Dream is homeownership. Contrary to popular belief however, it’s not always better to buy a home than to rent a home. Like most things, there are several factors to consider when choosing to rent vs buy.

Primary factors that should affect your decision are:

• Are you financially prepared to purchase a home?
• Do you see yourself staying in the area for at least 5-10 years?
• Can you afford a home of the desired size in your preferred area?
• What does the local housing market look like historically?

Let’s go through each of these four elements as they relate to choosing should rent vs buy a home.

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