Owning a house :

So, speaking from the view of someone who has never rented; depends. If you are somewhat handy, and able to afford a certain amount for repairs and updating, go for it. Even a turn key is likely to have problems, and many critical systems (HVAC, Hot Water, roof) realistically have a ~15 year life span. In addition, the kitschy stuff today is going to be looked at as outdated in the future.

If you're in the market for a house that needs updating, make sure you can afford the time, effort, and money to renovate and be prepared for disaster.

Oster1 · M

As someone in the business. I would not buy now. Lease as cheaply as possible in a safe area. Home prices are dropping. Finance charges, interest, etc., will drop soon. keep saving up for the down payment and ancillary expenses.

4meAndyou · F

This is a very bad time to buy. Interest rates will continue to go up and up. You would have to pay through the nose, unless you can afford to fix a house in very poor condition....AND if you find it is too much of a strain to make the payments, you can't just move out without leaving all your equity behind.

SW-User

There are pros and cons to owning and renting...you just need to weigh up what will work best for you

DunningKruger · 61-69, M

Owning a house is a pain in the ass, but it's also "good debt," with a reasonable expectation of your investment appreciating in value over the years. I would go with buying.

Lilymoon · F

Buy

Funlov · M

Always own if you can renting is throwing money away bought my first home when I was 23 never looked back

SW-User

The interest rates are prohibitive currently.
Generally, it’s a good investment

Tminus6453 · M

Yes...buy if you are able too

SW-User

I live somewhere where it’s impossible to buy a home unless you are making well above six figures. So it really depends on what the prices are like. It’s always a better investment to buy a home if it’s financially feasible. It just may not be feasible, depending on your circumstances.

icedsky · 51-55, M

Either one depending on your own personal situation.
Could be a good thing to rent. Or a great idea to buy. Planning on long term if your going to stay in the area or want to move elsewhere at the drop of a hat.
The local economic situation is a big factor.

Iwillwait · M

Own is always better.

SW-User

Buy