It is simple money in money out. I saved for my first house by renting because it made economic sense. Low rent in a <edited> house is cheaper than all the added costs of owning a property. Rememebr the idea of sacrfice for future gain?
You could always buy and rent out all the roooms, except 1, as a means of killing two birds with one stone.
I rent, and own properties. I prefer to use as much of my cash as possible for investing so I can fast track my investing and buy more property. Even better, I share with other people and actually pay no rent at all…
Depends on your personal situation, I am looking long term, and never thought of renting, but it has proven to have helped me out.