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there are a number of costs associated with buying/owning that are cheaper/nonexistant when renting.

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For example?

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Off the top of my head -- two things:

Insurance - renters insurance just covers your personal property in the house. Homeowners insurance covers you personal property AND the real property (house).

Maintenance/Repairs - if your renting and the washing machine, dish washer, heater, etc breaks - call your landlord or management company. If your an owner, you have to get it fixed and pay for it yourself.

Myself, I own but I've been where I am or a while and plan on being here a while longer.

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1. interest
2. property tax
3. insurance
4. maintenance/repairs
5. higher utility charge

Also don't forget when you sell your house you are likely to pay 6% agent fees PLUS buyer's closing cost.