We have enjoyed renting this past year. No yard work…if something breaks, make a call – and if it’s a big item and it’s not your fault – whew!…rent can be cheaper than a mortgage payment…and so on. With a house, there’s always the temptation to remodel (again, look at us…eeek!), or if you find a serious problem with the house after the papers are signed, ‘eeeek,’ again. Then again, it’s yours – you can paint, decorate, replace, install, etc., to your heart’s content.

If you like playing with numbers, find the average price of a rental in your new area, add in the attached monthly expenses, renter’s insurance, and any additional expenses…then compare that to your estimated rent, utilities, insurance, and anything extra you anticipate spending. If you think about hiring a realtor later on to handle the sale of the house (typically 6-7% of the selling price)…add all the money factors together and determine how long you’d have to rent vs. own to make it worthwhile. On the average, if you move in 3 years, consider renting. For 5 years, owning might be a consideration.

Oh, and if there’s any damage, er, lived-in wear and tear from having two active boys in the rental house, you lose your deposit. In a house that you own, you’ll be paying to get it into shape to sell it.

I have known pastoral families who have gone both ways. Either way could work for you. Just realize that if you buy, you could be a landlord in a few years! Good luck with your decision!