Stop paying rent and stop over paying for properties that have little or no equity. You SHOULD buy a home with equity. Especially in this market. Sure!!! You will need your tools and a bit of imagination to make this house your home, but it's all worth it. Now that you've evaluated this area and determined this is where you want to be, consider spending some time at Lowes and Home Depot over the weekend, after saving your favorite remodeling options pins in Pintrest.