Aah…rent vs. buy - one the most complex questions in real estate. It really is a very “if, then” kind of answer. As a general rule of thumb you should not buy unless you plan to live in the home for 5+ years. Then again, if you find a great bargain and it is in a market where rents > mortgage payments it may be worth it even if you don’t live there for a long period.

My advice will be start by looking at the ratio between what you are paying for rent vs. how much your mortgage payment will be for a comparable home to the one you are renting.