Torn between renting or buying a home? Think about it this way, the rent you pay could build equity in your own real estate. When owning a home, each monthly payment is like putting money into a savings account rather than giving it to the landlord when renting. Over time, the mortgage balance decreases and equity builds. As for tax, there are some advantages attached to home ownership - consult a professional tax advisor.
Below is a chart that gives you a picture of what is happening to your money when renting:
If you're planning on owning your home for 10 years or more, buying is a great option. I've experienced meeting clients who have lived in their property for only 4 years and have already earned their capital gain. This also may depend on the location of the property as well. Consult a professional realtor to weigh out your options!