Where should I invest?  Should I buy stocks, should I buy mutual funds, these are great questions and I ask them myself.  I hear people asking whether they should buy a home or rent, and the answer is simple:

If you are a responsible person, and will be staying stable for the next 7-10 years then Buy!

If you are a responsible person, and would like to be able to move when you want to then Rent!

A lot of home were bought and sold in the last couple of months, we have many new homeowners that took advantage of the First time Home buyers tax credit.  this was a great deal and it help most real estate markets across the country.  There were many sales because of these first timers, resulting in additional sales for move up buyers, that were able to sell their existing home.  We saw many people selling and making the switch to renting, it just made sense for them.

Whether you should buy or not has nothing to do with the strength or weakness of a market.  You do not buy stocks only when their low, No, you buy a little here a little there.  You hold for the long term and sell when it makes sense.

Buying a home is the same way.  look at you present situation and ask your self this.."Do I want to be in this home in five years?".  If the answer is anything other than a big "Yes", then you should take a hard look at renting.  It is cheaper in the short term and allows you flexibility in moving. 

Purchasing a home takes a commitment that we used to say everyone should take.  Maybe not owning a home does not make you more responsible, or more successful.  However for many people this is a wise investment.  If you are stable in your life an career then home ownership is probably the wise choice.

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