Should I rent or buy a home?

In some cases, renting may be cheaper than buying. For example, renting often requires a smaller monthly cash outflow than a combined mortgage payment that includes principal and interest, insurance and taxes and, possibly, mortgage insurance. As a result, renting may free up your cash flow and allow you to invest in other things.
Also, you earn in your home over the time you own it, which boosts your personal net worth. Renting does not create net worth.