Here's a handy flowchart that'll tell you if it's better to rent or buy a home

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails

Sign up to our free breaking news emails

Please enter a valid email address

Please enter a valid email address

SIGN UP

I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice

Choosing whether to buy or rent a home could be one of the most important decisions you make in your life. Are you ready to settle down? Will one price work out better than the other?

It depends on your financial situation, like how you'd like to manage your savings, if you have an emergency fund, and whether you'd rather try to fix your broken toilet yourself or just complain to your superintendent.

It's also a decision that's harder and harder to make for young people, as financial inequality leads more young people to simply live with their parents, and to put off buying a home until later in their lives.

Check out our handy chart, first put together by Business Insider, that factors in all the major decisions you need to make when choosing whether to rent or buy a home.

Read the original article on INSIDER. Follow INSIDER on Facebook. Copyright 2017. Follow INSIDER on Twitter.

• These will be the 32 most powerful economies in the world by 2050
• Scientific ways to instantly make yourself more attractive
• Meet the 31-year-old Pegasus Airlines pilot who has become an Instagram sensation

Read the original article on Business Insider UK. © 2016. Follow Business Insider UK on Twitter.