Let’s face it… As a home owner, there have been better days for you. Now it’s time to ask yourself a few questions. You are the only one who’s going to see the answers… So be honest with yourself.

• Why did I buy my home in the first place?
• Why is it important to me to keep my home now?
  • Many things have changed in the last several years. Am I using outdated
    information to support a decision I made in a different time…?

You were told that Buying was better than renting, so you bought a house. Things change… It didn’t work out like you planned. Here is a look at Owning versus Renting from the Homeowners perspective. There is a great tool at the end of this page (Provided by the New York Times) that will assist you in looking at the financial cost or Owning vs Renting.

But, that argument oversimplifies a much more complicated decision. Other things you need to look at include:

• Mortgage payments are usually higher than rent payments. You may not be able to afford a mortgage.
• Homeowners with mortgages pay interest on the amount of the mortgage to a bank or other lender. Because you have incurred no debt, you owe no interest if you rent.