You will have to do the math.
if the rent is 1500 a month and the purchase price for a similar unit is between 150K and 180K is better to buy.
But if for example you are paying rent for 1500 a month and the purchase price is 300K you will have to love the house.
the other scenario could be you are currently renting and you wants to change the old kitchen, or remove a wall from the inside, change color to live colors, and if the owner is not agree with all this changes you cannot make them. But if you own the house there one to tell what to do or not do it unless there is an association.
well the choice is your but this is the most common situation between owning a place compare to renting.
Realty World Executive