Question: With the market the way it is today, is it better to rent or buy a new house? This is my first time buying.

Answer: The main thing to really consider in order to decide is the time you plan on living the property.  Anything less than 2 years I say rent because when you add up closing costs at buying plus agent fees and legal fees at selling you may end up loosing money.  But if you plan on staying for 3 or more years then buy because of the tax benefits you get plus the appreciation of the property will be enough to cover for the aforementioned items and then some.
This question from the Yahoo Q&A forum is categorized in the topic: Entertainment & Music