Like many people who are faced with finding a place to live, you probably are torn between whether you should buy or rent. Both options have perks that can make a huge difference in certain situations. To help you decide if you should rent or buy a townhome, here are some considerations to make.  

Are You Planning to Move in the Near Future?

One of the most important factors to consider when deciding whether to buy or rent is how long you plan to stay in the townhome. If you are planning to move in the next few years, it is is unlikely that you will see any real return on your investment.  

When you buy a townhome, you have a number of costs, such as closing and moving costs. In addition to this, the market can sometimes be unpredictable. If the housing market drops in the next few years and you opt to sell then, the full appreciation value of the home might not be realized. As a result, buying a home can seem like a poor investment.  

By contrast, renting a townhome gives you the chance to experience townhome living without worrying about appreciation or depreciation of a home's value. It also means that you are not buying a home before you are ready to settle for more than a few years.  

How Stable Is Your Personal Life?

Your personal life also should be factored into deciding on buying or renting a townhome. For instance, if you are employed in an industry that is having trouble and there is no guarantee that you will have a job in that field in the next few years, buying might not be the best choice. Instead of walking away from a lease on a rented townhome, you could be faced with a foreclosure, which can have a bigger impact on your credit future.  

You also need to factor in your romantic life and family plans. For instance, if you are planning to start a family in the next few years, renting a townhome now gives you the time to consider the potential size of your family and budget. By contrast, if you buy a townhome now, it is possible to buy a home that is too small for your growing family, which means moving again in the near future.  

If you are still undecided on if you should rent or buy a townhome, talk to a realtor. He or she can help you assess your situation and make a decision that is right for you and your family.