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I've had a lot of people ask me if they should use their savings to buy a primary residence or a rental property. As usual, the answer is "it depends." And in this case, maybe the answer is "do both!" At a recent event, a young couple came up to me and told me they had saved $200,000 to buy a home. First of all, I was so impressed! Few people save money today. Then I asked if they had started house shopping yet and if they could afford a home they'd want to live in for a long time. They told me it wouldn't be their dream home. It would just be a condo. Here was my response: If you want to live in a home for a long time for something like raising a family, buying can make a lot of sense if you find a nice community with good schools. The mortgage payments may be a little more than what you'd pay for rent, but when you include the tax benefits, that home loan can be cheaper than rent. Plus, if you have a fixed-rate loan, you don't have to worry about your rent going up. It will remain the same for the life of t