If you rent a home or apartment, it may be time to consider buying. The cost of rent is rising in most places, while mortgage rates are still relatively low. In many cases, rents are rising faster than home values, yet mortgage rates remain low.
This makes a lot of sense if you’re planning to stay in a certain place for at least five years.
Buying a home doesn’t come without it’s draw backs. For instance, once you become a home buyer you have to spend money on property tax, insurance, upkeep, etc.