Compare the costs of renting versus buying a home to see which option makes more financial sense for you.
Consider your down payment, closing costs, monthly payments, maintenance, and potential appreciation when buying. For renting, factor in rent increases and investment opportunities.
Buying typically makes more financial sense if you plan to stay in the home for at least 5-7 years to offset transaction costs.
Evaluate local market trends - high home prices relative to rents may favor renting, while low mortgage rates may favor buying.