Are You a Perpetual Renter?
Some people end up renting a home for so long that they could have completely
paid off a house with the money that they spent on rent over the years.  
Such people are often described as perpetual renters.  Some people choose to rent 
throughout their lifetimes for specific reasons.  Others simply find that time
gets away from them before they take the steps necessary for purchasing a home. 

Reasons for Perpetual Renting
Sometimes people choose to be perpetual renters because they don't want to have 
to deal with the expense or hassle of maintaining a home of their own.  Others 
can't (or think they can't) afford to buy a home of their own.  People who do 
not have a significant amount of money set aside that could be used for a down 
payment often think it would be a waste of time to check into home ownership.  
However, this is not always the case. 

Breaking Your Pattern
There are ways for perpetual renters to break out of their rut and become homeowners, 
and there are also many good reasons to choose to invest in real estate.  Conventional 
wisdom says that for most people, purchasing a home is preferable to renting for 
people who (a) can financially afford to do so and (b) are planning to stay in the 
same area for a significant length of time. 
 
Many experts believe that buying a home is the smartest investment you can make.  
If purchasing a home makes sense for you and your situation, you should start 
investigating how you can break the cycle of perpetual renting. It may seem too 
hard, but you are not alone.  The first steps are things you have to do yourself, 
but there will be help along the way. The world has lots of people in it who want 
you to succeed: people who are willing to invest in your future not only because 
it's good for their business but because your success is part of a healthy 
community and that's good for everyone. 
Budgeting
The first thing that experts advise individuals who are looking to buy real estate
 to do is create a budget and stick to it.  By having and sticking to a budget, 
it will be easier to figure out how much house you can afford and what type of 
down payment you will be able to save.  Once you have your finances sorted out, 
you will have a better picture of whether or not you can afford buying a home.
 
Start Saving
The next step is to start saving for your down payment.  Traditionally, this means 
having 20% or more of the purchase price of the real estate available on hand.  
For many first time homebuyers, it will take time and a great deal of patience 
to save the amount of money needed to provide a down payment on a home. 
 
Fortunately, many lenders have special programs for first-time homebuyers that 
do not require such a significant initial investment.  Check with a reputable 
lender to see what your options are in terms of the amount needed for a down 
payment.  Some programs are funded by local government agencies, and the paperwork 
may seem daunting, but a good lender will work with you to get through it.  
In addition to the down payment you will also need to include the price of the 
closing costs, realtor fees, moving expenses, and money to decorate your new home 
in this figure, typically another 10% of the price of the home.
 
Search for Your New Home
Once you have a budget created and some money saved, you can begin looking at homes
in your area or begin the process to find a realtor to find a home for you.  
You must remember that home ownership is a great responsibility and involves a 
significant investment.  It is also a lifestyle change that can be very rewarding, 
both in terms of your quality of life and financial stability. 
 
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