Illustration with two houses, one with a "for rent" sign and one with a "for sale" sign. Should you rent or buy?

Renting may be the right choice if you:

• Plan to move in the short term
• Don't have a down payment
• Have poor or no credit
• Don't have to bear the responsibility or cost of caring for a home
• Can save money by renting based on prices where you live

Buying may be the right choice if you:

• Plan to stay for at least three to five years
• Have a down payment
• Have good credit
• Are prepared to handle any repairs, improvements and maintenance yourself
• Can save money by buying based on prices where you live