By Carmen Arruda

Introduction Carmen Arruda commands more than two decades of

experience in the fields of home loan financing and real estate sales and development. Currently a regional account manager and assistant vice president of Fidelity National Title Insurance Company, Carmen Arruda teaches real estate professionals how to guide clients through the home-buying process.

Buying a Home The decision to buy a home versus rent it requires

careful consideration and a thorough examination of all the factors. If trying to decide your best option, take your current rent and multiply it by 12 (for the months in a year). If the resulting number is greater than the average price of homes in your area, then you likely can afford to buy.

Conclusion In many US markets, affordable home prices and

record-low interest rates result in now being an ideal time to buy. However, remember to begin small: do not start looking for your dream home with your first house. Also, know that smaller houses appreciate about 20 percent faster than larger homes, so a small house will help you work toward the next size up. In addition, it is helpful to think of buying as a way to build up your equity. Homeowners often receive tax advantages, meaning a payment toward a principal puts money in your pocket, not your landlord’s.