Is renting a better option than buying?

I want to know what the best options are when it comes to renting vs buying. As someone having just moved out of home, I'm not sure if I should continue renting, or take out a mortgage and start paying it off as early as I can?
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Renting is a great option, if you are new to an area. It gives you the opportunity to get a grasp of the surrounds before making such a commitment, to buying. Renting also gives the flexibility of being able to "move on" after the end of lease term. Avoiding the additional costs involved in owning your own home - house insurance, rates, service fees and charges on utilities, etc is also another benefit. However, if you are comfortable in the area, looking for long term security an satisfaction of having a "home" then buying might be for you!
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The opinions expressed here are those of the individual and not those of Ray White.

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