8 Questions to ask yourself when deciding to rent or buy

Source: Credit.com

If you're at the age when your peers are making major life moves — getting married, having kids and buying homes – you might be feeling it's time to join them. Or you may simply just be at that stage all on your own. Either way, plenty of young adults are starting to get the home-buying itch. While there are a lot of appealing benefits to homeownership, taking on that kind of debt is not without risk. The decision to rent vs. buy is one you should make carefully. If you're trying to figure out your next move, consider asking yourself such questions as, "What is my top financial priority?" "Do I have enough for down payment and closing costs?" "And, how long do I plan to live here?"