Should you buy or rent? The common theory is that owning your home is cheaper then renting? True or False? It depends on a number of factors, the most important being the cost of buying vs. the cost of renting the same or similar home. Market conditions and your own needs. How long are you planning to live in the area? 

Often, it may be CHEAPER to RENT then it is to own. How? Rising REAL ESTATE taxes and other carrying costs (insurance, maintenance etc) all should have an impact - if you are the owner. As a renter, the owner has to try to cover these FIXED costs as well as their mortgage. The larger the home, generally the greater the carrying costs, giving you, the renter, more power in getting the best deal. IT NEVER HURTS to offer LESS then the asking price - whether you rent or buy - unless the market conditions are real hot.