To Buy or Not to Buy

To Buy or Not to Buy

is homeownership right for you?

Buying a home is the largest purchase most people make. It has tremendous benefits, but also carries lots of responsibilities. Ask yourself the following questions:

  • Can I afford to buy a home and at what price point?
  • Am I ready to budget for home associated expenses, like insurance, taxes and repairs?
  • Is it in line with my 5- to 10-year plan?
  • Do I wish to remain in the same area for the next few years?
  • Have I had a steady income for the past two years?

  • If you answered YES to the questions above, then homeownership may be for you! Remember, however, real estate transactions aren’t cheap, so buying, and then turning around and selling, usually is not a good idea.

advantages and risks


  • Freedom to live as you wish, making the changes you want
  • Build wealth in the equity of your home
  • Home buying sets down roots, invests in your future and allows you to make connections with your neighbors and your community
  • Also, possible federal income tax reductions (check with your tax advisor)


  • Less mobility
  • All repairs are your responsibility (you bought it, you broke it, now you fix it!)
  • A home can be a slow appreciating asset
  • Initial and up-front costs of owning a home could be a financial burden

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