Well, it will certainly be more expensive month-to-month to purchase, as I pay a mere $900/month in rent right now, and I'm looking at $2500-2700/month after PITI for $350K+, but I will take home approx $500 extra monthly, so I will be taking on an extra $1100-1300 a month in real added expenses.
That being said, I need a garage. It is a requirement for me, and I do not have one right now. Taking on the extra financial burden is worth it to me because as a single person earning $130K plus, taking only their standard deduction + max 401(k) allowance, I get murdered in taxes. I also own nothing but my car and my retirement accounts.... I have promised myself that I would be a homeowner by 30, and I just turned 28, so this is something that I feel I need to do for myself, and given recent dramatic changes in the market that have given buyers the opportunity to FINALLY get their foot in the door, I really feel that buying now (or in the near future) is the right decision for me. For the years after I graduated college while housing prices were surging at rediculous rates, I could never quite earn enough or save enough to "get in" (at least I thought so, but in 20/20 hindsight I should have bought a crummy studio in '02 and held onto it to flip it for profit). Now I see that wall has been toppled, and I can finally purchase a home that I could really see myself living happily in.
I just am a little gunshy with all these doomsday predictors... the last thing I want is for the biggest financial decision I have ever made to turn into somthing that ruins me, when I otherwise am on the right path to a financially stable, happy, healthy life.