How to answer the eternal query: Should I rent or buy?

One of the most-pondered questions that consumers have whendeciding about their housing needs are about the financialimplications of renting vs. buying.

A common phrase often heard is: "Paying rent is like throwingmoney out of the window." This may not always be the case. Itreally depends on the consumer's short- and long-term housing needsand their current and perceived financial situation.

One of the best ways to evaluate the most appropriate approachis simply to list the expenses associated with both renting andowning.

If you have a relatively small amount of money available for adown payment, and are debating whether to buy a "starter home" orrent …