Recently, I pondered the idea of whether people with mortgages were better at managing finances than those without. In that article, I put forth the notion that while not everyone is suited to have a mortgage, saving money as if you plan on one could give you some needed financial discipline. Well, if you're thinking of having a mortgage anyway, there's a free e-book (PDF) called Take Cover: Compare Renting vs Owning, available from a site called Moving Average Inc. [found via I Will Teach You To Be Rich]
If you are considering purchasing a home and taking one the enormous, long-term debt of a mortgage, keep in mind all of the hidden costs that you don't feel first-hand when you rent. This is often what trips people up, from what I've seen of friends and family. As I've said previously, the stress of a mortgage or double-mortgage can ruin a family.
If you're not sure that you have the financial/ savings discipline for owning a home, but really want one anyway, I still stand by my hypothesis (as discussed in the article linked to above) that acting as if you are saving for one,will help you develop that discipline. Go for an investment vehicle that affords liquidity, such as short-term certificates or online savings accounts.
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