To buy or not to buy?

As 20- and 30-something renters grow up, it's a question that becomes increasingly common. But answering it takes more than knowledge of mortgage rates and area housing statistics. It takes knowing yourself.

I've been a renter in San Antonio for nearly eight years. Buying a house when I first moved here could have been a good investment, but I was a freshman in college. I thought more about parties and road trips than mortgages and investments. I still do.

I'm not ready for home ownership. I've had many friends try and convince me that I am, but I know lawn mowers, home repair technicians, property taxes and real estate agents aren't for me — at least not right now.

I don't view renting as throwing away my money. I see it as paying to have a roof over my head and a lot of freedom.

When I decide I want to move, all I have to do is time my move with the expiration of my lease. I don't have to worry about selling a house or being trapped with two house payments.

To answer the home ownership question for yourself, first answer these: Do you intend to stay awhile? Do you mind yard work? Can you afford the extra costs of home ownership?

Renting makes sense for people planning to move within two years, according to the financial gurus at Charles Schwab. The shorter the length of time you own a property, the less time you have to spread out closing and other one-time costs, meaning your monthly costs could easily surpass what you would pay to rent a similar property for the same time period.

Granted, you won't benefit from a rise of the value of your rental property, but you also won't have to pay more in property taxes because of the gains. And you won't have to pay for maintenance costs, generally estimated at about 1 percent of a property's value.

Buying means accounting for maintenance costs as well as the costs of property taxes, homeowners' association fees and larger utility bills.

Even if you plan to settle down in a place, you may not be ready to buy if you have little or no savings.

Unlike apartment rentals, home purchases require a down payment, traditionally 20 percent. Some mortgages allow smaller or nonexistent down payments, but the tactic is riskier. A small down payment and declining housing market could leave a buyer owing more than a property is worth.

I've heard the stories of homebuyers who have lived in a place for a few years and left with thousands of dollars more, but hidden among those tales are the stories of homes that just won't sell, months trapped under dual mortgage payments and investment plans gone terribly awry.

The idea of making money in real estate is appealing. But to me, the idea of not losing money in real estate is even more appealing.

For some people, renting just makes more sense.