When my husband and I bought our first home the cost of renting was about the same as the cost of buying. When we bought a house we go an additional bathroom and a little more space so I suppose buying a house was the more cost effective option.
Right now home prices are high and so are interest rates and at the same time rents are coming down slightly. If you like to pay interest on a mortgage and pay top dollar for a house now is the perfect time to buy. If you are looking for a more flexible affordable option renting might be the way to go.
When interest rates go down there is going to be a home buying frenzy which will drive home prices up further.
Homeownership is a wonderful thing but the timing is important too. Houses generally appreciate in value but not always and they lack liquidity.
