legal advice

Today, you can be in a better financial position if you rent a house instead of buying a house. Now it is possible to own you dream house at a very low cost and monthly payments.
For example you buy a house for some X $. For getting a loan of that size, you need a down payment up to 20% of that amount. Part from that closing cost, appraisal, survey and originating fees has to be paid. And when you apply for a loan, several other fees have to be paid. So when it is the time of closing, you are generally out of pocket.
Now for example, after three years, suppose the market value of your property does not get increased, then all the money you paid at closing time is equal to equity of the same amount.
Now try to imagine another situation. You buy a house and after a few years the condition of the market becomes good. Then you can easily sell the house in case you get a good buyer.
You sell your house at a higher rate and go to another good house. Then you think you have made enough money and why not always buy a house and sell that when the market condition is good. But, here also we like to mention that all the money that you make during this period will be approximately equal to the money of equity.
And lets have a look at the down side. You buy a house and after some time the market drops by say 10%. So, your house is quite hard to sell now and you do not get the right amount of money for it. Well, if you lease a house, it becomes a winning situation here.