when should you buy a house

Buying a home has pros and cons compared to renting. Your home can increase in price and over time making payments you will build equity. Utilizing a fixed rate mortgage also means that you will know how much you're paying for years to come. Home buying however does require upfront costs for a down payment and closing costs.

Renting allows for greater flexibility where it is easy to pickup and move with little worry. The landlord is also responsible for the repairs assuming that they are responsive. While renting however the rent can be raised over time and unsure what the increase can be can force having to move.

The pros and cons must be weighed on an individual basis however for more calculations on what is financially feasible use the calculator to the right. (desktop version only)