To buy or not to buy?

That is a personal choice of course. Understanding the risks/rewards, the loan process and your options will help you make the best decision based on your individual circumstances.

Homeownership is a privilege and a responsibility. Owning a home provides a sense of security and stability. Are you ready to buy?

Start with asking yourself this question:

Why do you want to buy?

What are your personal reasons? Write down your answers on a piece of paper. If your "why" is big enough, you will have the drive to make it happen. What are your fears of buying? Write your answers down. Your list of answers will help you make the right decision. Review both lists. Take some time to think about your answers. Talk about it with your friends who already own a home.

Pros:

• Pride of homeownership.
• You'll have a place that you know is your's.
• Your children can play in your own back yard.
• Real Estate usually goes up in value, which would increase your equity.
• Mortgage interest and property taxes are tax deductible.
• You won't need to worry about rents going up.
• You won't have to worry about a landlord.