Buying or renting?

This question is much more than comparing the mortgage payment and the cost of the rent. It really depends on your preferences, but here are things you should consider.
Having your own house has its benefits, and if you think in long terms this is a good investment. On the other hand, it requires larger capital to start, with down payments traditionally being around 20% of a home’s price.  It also brings less flexibility if you decide to move, as selling a house can take time.
If you don’t know how much are you going to stay in one place, or your job requires lot of travel, it’s better for you to go for renting. Even though it gives you extra flexibility, some people may find it as throwing money down the water. You should also keep in mind that renting in urban areas is expensive, so it is good idea to find roommate or a couple of them.