6 signs you probably can't afford to stop renting
- You're not ready to buy a house if you don't have a specific savings fund for a down payment - your emergency fund won't cut it.
- It may also be a good decision to keep renting if your debt payments exceed 43% of your gross income, your credit score is below 620, or there's a possibility you will relocate for a job.
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Buying a house is a huge financial commitment. While some people consider real estate a reliable wealth generator - or decide to buy a house because they want to put down roots - it's not feasible, or even practical, for everyone.Here are six signs you should keep renting for now: