Kip Tips


Renting May Beat Buying

Cameron Huddleston

In this market, buying a home isn't always the best financial move to make.



Some traditional rules of personal finance need to be tweaked to mesh with these tough times, according to the September issue of Kiplinger's Personal Finance, which hits newsstands August 10. Among Kiplinger's 12 new rules for your money, we suggest that renting may beat buying a home. Buying wins when home prices are rising -- and that's not the case in many places.

Here are several resources to help you decide which option is best for you now:

1. Start by crunching the numbers with our tool to see if you'll be better off renting or buying.

2. Consider whether home prices in your area will fall further. You don't want to buy a home now if it will fall in value and you'll owe more on your mortgage than the house is worth. See Should You Buy or Rent? for tips on figuring out whether your market still is in the bubble zone.

3. See cities where home prices have held up best and cities where home prices have fallen most to get an idea of whether buying a home where you are makes sense.



Editor's Picks From Kiplinger


You can get valuable updates like Kip Tips from Kiplinger sent directly to your e-mail. Simply enter your e-mail address and click "sign up."

More Sponsored Links


DISCUSS

Permission to post your comment is assumed when you submit it. The name you provide will be used to identify your post, and NOT your e-mail address. We reserve the right to excerpt or edit any posted comments for clarity, appropriateness, civility, and relevance to the topic.
View our full privacy policy


Advertisement

Market Update

Advertisement

Featured Videos From Kiplinger