Buying vs Renting a home.

Have you ever asked yourself this question, "Should I continue to rent a home or look for a Home to buy?" If you are like millions of Americans you have probably at one time or another asked yourself that question. I know this is a subjective question based on circumstances, financial position, and location but the simple fact is Homeownership could be the best financial decision you will ever make. I do not want to get into the pros and cons of both because that has been beat to death but what i do want to suggest is take a practical look into the housing market we are in right now. If there was ever a time to purchase a home it is, NOW! Why? Right now in certain parts of the country you can purchase homes for less than they were purchased 20 years ago. I personally buy 5-10 homes per month and I am buying homes for less than what people paid for them in 1975 (the year is just an example). You don't even have to look hard to find a great deal, there is about one in every neighborhood. The appreciation potential you can experience from this type of purchase can put you 10-15 years ahead when it comes to equity position. Also, last month bankrate.com announced that interest rates are at an all time low. All time low, I thought 5.5% was low already. So lets review a sec, you can purchase a home in 2010 for equal or lower than when it was brand new in the 70's and 80's but not have to lock in double digit interest rates, that to me sounds like a true bargain. Now, back to buying vs renting, taxable advantages aside, owning your own home is still the American Dream, because of this mortgage companies are offering low down payment and closing cost incentives. FHA (Federal Housing Administration)promotes homeownership and offers mortgages with as little as 3.5% down. Now that is a far cry from 100% financing but if you live in a rural area you can get one of those through USDA. That's right, the same people that approve the beef we eat offers 100% financing. Lets face it, you need to do some homework before you get started, but Homeownership is an attainable goal even in a rough economy and not only that, you will thank yourself in 10-15 years. For more information on Homeownership visit my website www.jaxhomebuy.com