[flash]

I spent quite a few years feeling like we were throwing away money by renting. In the end, it depends on the rent, the market, other expenses...

We rented 15 years, then bought a high end place, and made out ahead. We were in a rent-to-own (you rent off the down payment) in S. California, then DH was relocated. When we moved, after only three years, the house value had fallen from $500K to $250K. We would have lost quite a bit if we were locked in. Rent was also half of what we would have paid on mortgage and upkeep.

After you buy, there are start up costs, not just PMI, but turning on utilities, new contracts, home improvements, basic things like...do you have a ladder, or tools, or a lawn mower, or...it can take a huge whack out of your savings.