I was just paying my mortgage, and looked at where my money goes.
I was pleased that $700 of every payment is going to principle reduction. Not to mention the deductions I get to take for the Mortgage Interest, and the property taxes I pay.
This is one of the biggest reasons I believe in home ownership. My mortgage is less than it would cost me to rent this home, and more than half of it is going to paying off the loan.
Definitely a better deal than renting.
I can help you too figure out a way to not throw you money away on rent.