Interest rates are at record lows and the housing market is red hot. Isn’t it time for you to jump into the deep end of the pool and buy your dream home before you get priced out of the market? Maybe. But you need to be honest with yourself to determine whether you are financially ready for a home purchase. For some – especially for a short period of time – it may make better financial sense to opt for renting your dream home over buying it at first.
We all know a main part of the American Dream is the dream of owning a home. However, some people just aren't there yet and you may be one of them. It is important you know while homeowner is a key driver of personal net worth and financial freedom, there are times when renting a home may be a good choice.