The right answer depends on how long you'll stay, your local appreciation, and what your down payment would earn invested instead. Run the real comparison.
Your locationdetecting...
Renting
$
%
%
Where you'd invest the down payment instead
Buying
$
$
%
%
How long you'd stay in the home
After 10 years
Renting wins
Renting stays ahead within the comparison window.
Owner net position after 10 yrs
$428,725
Sale equity + invested savings, after all ownership costs
Renter net position after 10 yrs
$631,315
Upfront cash + cost savings invested, after all rent