You are ready to buy a home if you:
- Are financially able to commit to a long loan period
- Can afford the high down payment
- Have a stable source of income
- Are comfortable to live in a single location
Renting is a better option if you:
- Do not have a stable source of income yet
- Have a very mobile lifestyle and have no plans to settle down in a single location
- Do not want the burden of maintaining a property
- Wish to save your money for other purposes