Should You Buy or Rent Your Home?

Figuring out the answers to the four questions below will guide you to the right answer to the big question above.

Are you tempted to buy a house? Years of price declines have made buying a home more affordable than renting in all but two of the 100 largest metro areas, according to real estate Web site Trulia. (The two renter-centric cities? Honolulu and San Francisco.) Plus, mortgage rates are still appealingly low.

But does that mean you should buy? Before you make the leap into a lifetime of mortgage payments and home-maintenance routines, here are a few questions to help you decide whether you should rent or buy. Our answers led one of us down the path toward homeownership, with the other steadfastly strolling the route of renting. Which direction will you take?

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Andrea Browne Taylor
Contributing Editor

Browne Taylor joined Kiplinger in 2011 and was a channel editor for covering living and family finance topics. She previously worked at the Washington Post as a Web producer in the Style section and prior to that covered the Jobs, Cars and Real Estate sections. She earned a BA in journalism from Howard University in Washington, D.C. She is Director of Member Services, at the National Association of Home Builders.