I've written about the pros and cons involved in a decision to rent or buy a home at Should You Rent or Buy a Home? In that article, I talk about how there are both personal concerns and preferences and purely financial, mathematical issues.
To my way of thinking, working out the numbers is both the easy part and the part that you should do first so that you have a baseline to work from while you are making the more personal, quality-of-life types of decisions.
On my website, there's a link to a comprehensive "Should I Rent or Buy a Home" Calculator that will allow you to plug in some numbers and then change them, running different scenarios so you can consider how the different numbers would affect you and your pocketbook.
Once you have an idea of how your options will play out, you should be much better prepared to consider those important lifestyle choices that aren't only about the dollars.
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