When my wife and I were first married we had to rent a small one bedroom apartment since we were just out of college and starting our careers. We have since bought and sold a few homes and now are settling in a new home with some great features. We have relatives that are just recently married and are thinking about renting or buying a new home. I explained that if they can afford the house payment then buying is much better than renting. With buying your home you are building up equity where as renting your money accrues towards nothing. There are various tax benefits with purchasing your own home as well. I told them to compare mortgage lenders and find out much home that they could comfortably afford and then make their decision on how much they would have to pay in rent.

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