Home loan rates, a review
The decision is an individual one that should be dictated by your own financial and personal goals. Before you consider whether you should rent or take on a home mortgage, you should think about how long you intend to be in the house. For the average home mortgage, payments will be mostly interest for the first couple years, so you will not build much equity if you are there for a short time. There are added costs of buying a home, such as attorney and bank fees for closing, appraisals, inspections and title fees. If you plan to move and sell the house in two years, then renting might make more sense financially.