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I was a Realtor just prior to retiring early with a lung disease and as such I would tell you that investing in your own home is usually the smartest choice if you plan to keep the home at least five years before upgrading to another home.

There are other things to consider, though. If married, do both spouses share the same enthusiasm about purchasing a house? Do you have a secure, steady job to know that you will be able to meet the monthly mortgage payment? If you are unable financially to comfortably purchase a brand new home will you have the financial means available to do repairs that may come up unexpectedly with buying an older home? Have you saved money for a down payment and closing cost? First time homeowners can apply for mortgages where they do not have to put up all or any of these fees but those fees are just incorporated into the amount you are borrowing and result in a higher house payment even when they tell you the seller will pay closing costs. This just means they won't take less for the house when you make an offer on it.

The Pro side of buying is:

1. A portion of the money paid each month on your house payment goes directly against the principal amount you borrowed and therefore the house in an investment. You are not throwing your money away never to be seen again. The longer you own the house, the more escrow you have built up as the interest withheld portion decreases each month.
2. You have complete control in painting, remodeling, and landscaping choices, though you have to foot the bill for these changes yourself.
3. You do not have to worry about unexpected visits from the landlord.
4. You do not have the worry of someone coming into your home while you are away. I personally detested that thought when I was younger and renting.
5. When a repair suddenly needs to be made you are not at the mercy of the landlord as to whether it will be fixed at all, if it will be fixed properly and when it will be fixed. This can be a real nightmare as some landlords are just plain jerks.
6. You have a greater choice of the neighborhoods in which you may choose to live, particularly if you are looking to rent a house instead of an apartment. There are much fewer rental houses available as compared to houses for sale.
7. Due to a larger choice of neighborhoods in which to live you also have more control over what school system your child will be educated in.
8. You will have home owner's insurance on all your personal belongings as well as the home itself.

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