"I can't afford to buy a home"

If someone is renting and makes the statement "I can't afford to buy a home right now", they may want to consider this. . ."they are buying a home right now. . .the only problem is. . .they're buying it for someone else."  That is exactly what is happening when someone rents for a long period of time.  This doesn't mean that the correct decision for everyone is to buy and that no one should rent, there are many factors to consider.  Job and financial stability, a persons ability to deal with home repairs and how long someone intends to stay in the area are just a few.

There are a lot of opinions on the subject of renting vs owning a home. Many sites have calculators that will determine in dollars and cents what is best for your situation.  It is fun to see the outcome, but I don't think it is as simple as a mathematical calculation for deciding what is right for everyone.  The financial side is just one part of the equation.

Home ownership should not be taken lightly.  It should be part of an overall financial plan that is developed over time.  The joy of home ownership can quickly turn to distress if a person does not have a solid base in their finances and understand the responsibilities that come with home ownership.  So. . .my recommendation to all first time buyers. . . move slowly (but steadily) with a plan to purchase, but don't get too anxious. . .the time will come, and you will be much better off and happier if you do it "when the time is right" not just because someone told you that everyone needs to buy a home.

David Arnold
REMAX Greater Atlanta
Your Home Team Advantage. . . .