You may be better off renting if you expect to move or get transferred within two years. A mortgage should take no more than one third of your net income.
Many homeowners rely on tax deductions as a budget necessity - and one way to accumulate savings.
Whatever you decide, keep yourself informed and pay attention to your feelings. If area real estate is moving fast and you feel pressured to buy, this may not be the time. If you find a neighborhood you like but aren't ready to commit, consider renting there for six months to learn more about it.