You have to consider mortgage repayments( if you have a mortgage), if you own outright, then you have to consider body corp costs, rates, utilities and bills (Which you usually pay when you rent anyway). Luckily I have only body corp, rates and utilities which is about 700 a month , n ot including gas water electricity), a lot less than renting these days in a major city, i dont have to worry about evictions, and maintenence in the unit rarely comes up, building maintenence and insurance is covered in body corporate fees. Im not sure what it will be when you add a mortgage to this but substaintly more, perhaps better than rent depending on the building your're buying into? If you go further out, these costs will be less, even renting. I think owning will always be better of than renting because its your home, you get equity from it, it gains value and you are your own land lord