Every person has, at some stage of their life, dreamed of one day being that “perfectly”, newly married couple. Our opinions of this ideal may look something like the husband heroically entering his dream home carrying the most beautiful woman in his arms who wears a white gown dazzled with diamonds. The image reminds me almost of a warrior claiming spoils of war.

As cheesy as this tradition might seem, it can also be seen as a powerful symbol – two people making their first entrance into the home they now share as owners.

Now the question arises, should you and your new spouse follow that example, or do you have hesitation or reservations about adding a home loan to the mix? Let’s consider some of the pros and cons of the great questions that surface for newlyweds of renting vs. buying, so you can take the time to decide whether homeownership is another threshold you and your spouse want to cross together.

There is no perfect scenario or solution, but your solution does depend on your scenario.

By the time your partner and you arrive on that magical day at the altar you’ve probably made dozens of decisions together. Deciding on the registry together to tackling the dreaded task of choosing whether to seat timid granny Edna next to over eccentric friend Lucey or creepy uncle Simon. And now is definitely not the time to have a decision making a rash, burnout decision.

The decision of renting vs. buying is one that takes some time as you both need to evaluate each one’s respective merits. Many factors need to be considered, and you may find that personal finances, career goals and even the value you place on independence vs. convenience could influence your decision of whether to rent or buy.

The pros of renting

• Lower Start-Up Costs

  Moving into an apartment normally means paying some moderate expenses, such as the first month’s rent and a deposit and so on. Whereas buying a home normally means spending a huge amount on a down payment, and if you still haven’t figured out how to pay off the tropical honeymoon, this could weigh in large in your decision-making.

• Freedom of movement 

  Opportunities in nearby cities and abroad are always popping up. If you happen to need to relocate due to work, you’ll have a much easier time breaking a lease than you would selling a house. You might decided that renting it out is an option, but many find it too risky to travel or relocate once in deep with debt.

• Repairs? Not your responsibility

  If you wake up at 3am to get a glass of water and notice the floor is soaking wet because of a toilet leak, just call the landlord to sort the issue out. For homeowners, the burden of arranging and paying for repairs, and possibly filing an insurance claim, falls entirely on them. When it comes to upkeep, a conscientious landlord can be a real convenience.

• Insurance coverage

  Unfortunately, buying a home means buying household insurance and building insurance. While many don’t know the difference between household insurance and building insurance, it’s common to purchase both.

The pros of buying

• “Usually” More Economical

  If you’re a couple that are both fixed in your careers for the next several years, buying a house is generally considered the more affordable choice. Also, you can help protect your investment with a home insurance policy that may provide coverage for weather damage, break-ins and other hazards.

• Ownership Builds Wealth

  One aspect of the pro-buying argument revolves around the idea of wealth accumulation: Homeowners nurture an investment in something that will one day belong to them, rather than simply renting space from month-to-month or year-to-year. Even if you move to a new house before you pay off the home loan, you still have the equity you’ve built up in your current home. The thought being that it’s better to pay off your own home loan than someone else’s.

Whatever decision you lovebirds go with, make it a well thought out and informed one.

The task of deciding whether to buy or rent, as newlyweds, depends on your immediate realities and the long-term possibilities. Do you have a considerable amount of money on hand? Do you have job security? When are you looking to start a family?

You’ll need to consider all these factors, and more, as you figure out whether crossing the threshold right away is a realistic option or just a romantic idea.