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@wvm
There was a comparison between renting and buying which concluded it was actually cheaper overall to rent. This was a few years ago and didn't take into account such things as the risk of being turfed out of a rented property if the owner decided to end the tenancy. This has now changed with increasing rents and falling house prices. It is in certain areas, currently cheaper to buy.
You still need to raise a decent deposit of course so not that straight forward.