So far there have been some excellent words of wisdom shared on this topic. The one concern that I would have is if at some point you decided to sell then that creates one of the biggest headaches to owning. As a renter you can simply walk away. Owing takes on new meaning. There are many properties that have been on the market for years and years. My favourite one is a villa in Oyster Pond that had been on the market for 10 years.