Think Long Term!
Buying a home is more than just a short term accomplishment, it is a long term investment. What that means, making the conscious decision to buy a home versus continuing to rent is a step in the right direction towards building your financial future.
Think about this, you are 32, married, with 2 children and you are renting a 2 bedroom apartment. Chances are you plan on expanding your family, and trying to smash everyone into that tiny living space is not going to cut it.
Buying a home gives your the chance to breathe and grow your family, or at least have a starting point. Let's not forget the expense and cost of rent. Now of course you will have a mortgage, but instead of building someone else's pockets you are building your own. You have the opportunity to either meet or beat what you are paying in rent in some cases.
Many people who are just starting out,or have just moved out of their parents homes, automatically assume renting is the easiest way to go. Which it can be, temporarily, but as rent continues to sky-rocket and more homes are going on the market, the idea of buying should be a the forefront in your mind. If you have a verifiable source of income , if you understand the type of risk you are to a lender, and if you are good at saving and have at least 3-3.5% saved for a down payment then you are ready to look at options for Pre-approvals.
My recommendation is that you do not become too comfortable with just getting by and renting to satisfy the need for shelter. Expand your mindset consider the possibility of home ownership. With that also take into account how the process works.