Depending on the deal you get, buying a home can be cheaper than renting, especially in this market with rates the way they are. The main thing to keep in mind, however, is that whatever you pay monthly for YOUR home goes towards building YOUR asset., not your landlord's. That's why so many investors are investing in real estate. They are letting their tenants pay the bills!
Again, this all depends on getting a great deal. If you would like to discuss the matter further, let me know.