Is it cheaper to rent or buy a house?
This is entirely dependant on your situation. In the long run, it can be cheaper and can gain greater returns to buy a house than to rent it.
When renting, you are not gaining any assets from those monthly payments.
However, the upfront costs of buying a house are much greater than those with renting, so the short term costs are much cheaper with renting.
Remember: The longer you spend time renting, the less time you have to build up assets and fully own your own home. Start saving for a deposit today and make small steps towards becoming a homeowner.
For some helpful tips, take a look at our Top 10 Ways to Save, to help you get started.