Buying vs. Renting... Which one is right?
 

Think it just might not be time to start buying? 

There are many pros and cons when renting and buying. When you rent you have limited liability with the property but with that limited liability you have limited options. Most landlords control what you can do in their rental. Some restrict smoking, pets, candles (yes even those wonderfull things) and they can, because they own the property. Of coarse if a water line goes out its not your problem. The landlord will be responsible for repairing the problem. Also with renting the money you invest with "rent" will never be seen again. When you buy, your monthly mortgage payment is an investment into owning your own home. If you decide to sell your house all that money you paid toward your mortgage is almost 100% refundable and go towards your next home. You can (even though not always recommended) borrow against your home. Say that something that came up and you needed money for repairs or remodeling you can refinance and use that money you have invested into your home. 

When you are buying your own home you can make all the modification to it you want, because you own it! There is nothing that is more rewarding than knowing that you are buying a home. Some owners are willing to sell their houses to people on what called a contract for deed aka "Rent to Own". This is where the buyers agree to "rent" the house for a certain period of time and their "rent" payment goes toward the deed. Once the contract has been paid in full the owner gives the deed to the new owners.  This may sound like a nice choice but there are some things to keep in mind. If you are the buyer you still have a certain limitation to what you can do since you are technically renting. Also depending upon what is agreed to you as the buyer might be responsible for some or all repairs. If you decide you want to move you can but you can't use any of that money invested into the house because it only counts if you pay the full contract. You can also look at paying more total for the house versus getting a mortgage through a bank.