The freedom that comes with owning a home is admired by many. It is the same as being your boss. There are many things that you do not have to seek permission. You decide when to remodel the house. You can change the color of the paint without seeking permission. You do not have to let the rental office know about your overnight guests. Although you have to spend a lot to own a home; you will like the freedom after that. At the same time you do not have to use all that you have just for the sake of owning a home. Again you do not want to own a home that will make you pay for mortgage for the rest of your life.
You can think of what long term lease and spacious duplexes for rent have to offer you. You may get what you want from these options as you prepare for a better house. You may spend some few months as you get ready to get something that suits your style. Many reasons can lead to that option.
One of the main reasons is the current trend of the real estate value. The current trend is what many will call housing bubbles. That is a situation where the property value seems to be higher today than a year to come. That means you can buy your property today and sell it at half the price next year. Buyers may not have to buy properties during bubble for a number of reasons. You may end up buying a home at a much higher value that it is worth. You may end up buying a home with small bathrooms, fewer bedrooms, fewer features at a higher price than its value. The house you buy during house bubble will be difficult to sell. Your the mortgage will continue for many years before the house you bought is estimated at the amount you purchased.
You want to wait for a longer time because you may end up saving some money. Some mortgage programs require minimal down payments. There are so many things that keep changing in life You could be single today, and you meet the right girl tomorrow. You could be living with your wife today only to realize soon you are more than two. Before you decide on which home you want to buy, you have to think of the changes that may soon come to your life. You need to take time to prepare well as you think of all those possible changes before you make up your mind on the house to buy. You have the real estate trend, the mortgage and the changes in life to think about before making your decision.