I can only speak from experience….

Are you the kind of person who is happier renting or purchasing? I wanted to get into my own home as quickly as possible and bought in Sept 2001. With hindsight, I should have had a bigger deposit and found out more about closing costs. Lesson learnt.

Sounds like you are now in a highly enviable position; a sizable deposit with a good income. Over the last couple of years, prices have generally been rising (peaked? who can say?) to the point where if I were looking for my first home now, I could not afford the place that I purchased.

Bottom line. What do you want to do? It’s not a mistake to keep renting, nor is it a mistake to buy your own home. Either way, you’re going to lose paying the bank’s interest or your landlord. It’s what you do after your own accomodation matters are resolved that you can decide what to do next.

Mikey