I ask people the question “Why rent when you can buy” all the time and I have noticed that a lot of times I get the same answer.

Because they do not have the credit.

Well let me say this. Credit is the least of your worries.

If you have a job that pays well and you can afford the mortgage along with your other bills, then you are 3/4 past the battle.

Credit is something that can be fixed. There is no need to pay astronomical payments to get it done neither.

If you have no credit, then that is probably even better. There is no negotiating to get your payments down and all those other hassles.

All that needs to be done is for you to get yourself a couple of prepaid cards that report to the 3 main credit bureaus. Maybe you can add some electric and gas services in your name where you are living now and make sure you pay your bills on time. If you were not doing that before, then make sure you start the moment you get your cards.

Why rent when you can buy? The same amount that you are paying in rent is what you would pay to own your own home.

Right now, you are paying someone else mortgage for them to have something to call their own. Why wouldn’t you do that for yourself.

With the prices of homes at a low, you can get a three family, live in one of the apartments for free, assuming the other two units are rented, and still may have a profit left over, depending on how you play your cards.

I do not see any substantial reason why people would rent when they can buy other than fear. Fear of excelling and getting out of the rat race.