My little blog about mortgage loans
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. The bulk of payments made on a home mortgage the first handful of years is heavily weighted toward paying interest, rather than equity. Additionally, you will need to pay for an inspection, appraisal, documentation details, lawyer fees and other closing costs. If you plan to move and sell the house in two years, then renting might make more sense financially.