In my opinion, you need to live in a home at least two years to make buying worthwhile. There are exceptions for example: buying a "fixer-upper" or acquiring a piece of property that was under priced or on the urge of getting more favorable zoning. It is also very difficult to gain equity in your home if you put no money down. Money can also be made if the homes in your market go from a "buyers market" to a "sellers market". In 1996 some areas of Middle Tennessee were so hot that buyers were frequently offering more than list price to get the property.

There are some good solid reasons to buy rather than rent .

Pride of ownership - Ask any realtor how much more difficult it is to sell a house that is being rented than to sell one where the owner actually resides. As a whole, homeowners take better care of their property. A home is frequently an extension of the owners' personality.

Family Stability - A home provides a sense of permanence. Even maintenance on the home and yard can be enjoyable for the family as a sense of accomplishment. As a homeowner your children will know what school they're zoned to attend. You also don't have to worry about a landlord raising your rent or telling you to sign a new lease or else.

It's your decision - Except for neighborhood covenants if you want to make changes or improvements to your homes it's no ones business but yours. Whether its landscaping or painting it's in your control.

For the Children - I've heard many educators discuss the merits of a non-transient student environment. It is their belief that children who experience more stability in their life have a large advantage in schoolwork. From my experience in the military I know how difficult it is to go through the exercise of form, storm, norm and perform. It is difficult enough for adults to form a new organization or friends but for children it can be particularly difficult. In a neighborhood you also get to know the neighbors and their children thereby providing a little more control over who your children make friends with. I have also felt a greater sense of security for my children in a neighborhood. When I lived in an apartment complex I was always worried about where the children were and if they were on the playground and how safe it was.

Member of the Community - When you own a home I firmly believe that it provides a greater sense of belonging to the community. It just seems easier to join churches, monitor happenings in the community, become active in local schools or even get involved in community politics. The community becomes an extension of local owners.