Not sure whether you should buy or rent? Well as it turns out we are going to make it very easy for you to decide. We are going to cover a few typical situations that many consumers come across and answer the questions definitively.

Here is when it makes sense to buy.

Your Employment is Steady

If you have been at your current place of employment, or at least a couple years or you have a skill set that is in demand, then buying a home is probably in the cards for you. Buying your first home can create some anxiety. Now you are responsible for a mortgage payment on the first of every month. Plus there are additional expenses like property taxes and HOA fees. But don't despair. A good rule of thumb is to have several months worth of payments in the bank just in case you lose your job. This will create a strong sense of security for you if the inevitable occurs. And if you have a strong skill set, you will be able to find a job in no time.

The Housing Market is Collapsing

This is probably the opposite of what you might expect. But when it's a buyers market, deals are to be had. Over time home values normally do increase. And when the market turns around, the value of your home can increase substantially. You just want to make sure that the home your purchasing has inherent value.

So how would you go about measuring this? Well for starters, you want to buy a home that has a great location and is zoned to good schools. Most people get scared when a crisis hits, but this can be the perfect time to pounce. A good school district is directly correlated to an increase in value for home prices. Parents always want their kids going to the best schools available. And homes locating near popular destinations are almost always in demand.

Here are some typical situations where renting might be best.

Related Post: 5 Things First Time Home Buyers Need To Know

The Property Hasn't Shown an Increase in Property Value

The house might be perfect for you. And it even might be in a great neighborhood. But do yourself a favor and check the property value for the last 10 years. If you are not sure where to find this information, ask your realtor. But there should be county records you can access. You want to make sure that home is trending in the upward direction.

Here is what happens if the property value stalls out. You won't get any appreciation in value on your home. So assuming you are making property tax payments and you have a mortgage, you are going to be losing money on the home. Sure you can try and wait it out, but wouldn't it be easier not to. Plus don't forget, the seller is usually responsible for the commission on the home when it comes to sell.

Your Employer is Notorious for Moving Their Employees Around

If this is you, then renting is an easy decision. Some people with families don't like the idea of renting because they need space including a front yard and a garage. Well nobody said you have to rent an apartment. Talk with your realtor who can show you some great houses for lease.

If you are looking for a place to buy or an apartment to rent, Rentkidz finds rentals and homes for prospective clients. Get great service and have all of your needs taken care of in today’s marketplace.