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Buy or Rent? How to Determine What Makes Sense for You
by Staff
Many experts agree that while buying a home is often the ideal decision, there are definitely situations where a person would be smarter to rent. Find out which is right for you by taking this quiz.

How does the cost to rent stack up against the cost to buy in your city? If you divide the average sticker price by the average rental rate and get a number in or above the 18 to 20 range, which route should you take a closer look at?

  • buy
  • rent
  • it depends

If you're thinking of moving in the next couple of years or considering a lifestyle change like marriage or parenthood, which is potentially the smartest route?

  • buy
  • rent
  • it depends

If you decide you're ready to stay put for a bit, what's probably the best way to go?

  • buy
  • rent
  • it depends

If you own pets, which option is preferable?

  • buy
  • rent
  • it depends

Are you dying to paint the walls and install those granite countertops you've been eyeing online?

  • buy
  • rent
  • it depends

If you're not hot at managing your money, which alternative might you want to opt for?

  • buy
  • rent
  • it depends

You've found the perfect neighborhood; unfortunately your jaw dropped when the real estate agent told you how much your dream home was on the market for. What should you do?

  • buy
  • rent
  • it depends

Are you a DIY fanatic? If so, what housing path might that lead you down?

  • buy
  • rent
  • it depends

Do you like dealing directly with individuals on a one-on-one basis? If so, what should you do?

  • buy
  • rent
  • it depends

What about the possibility of rent increases? Should that help tip the scales toward home buying?

  • yes
  • no
  • it depends