Its more than that, because mortgage repayments are typically lower than rents (or at least equivalent), and include a percentage capital repayment. At the end

Its more than that, because mortgage repayments are typically lower than rents (or at least equivalent), and include a percentage capital repayment. At the end of the mortgage period you have no monthly payments and you own a significant asset outright, which may appreciate in value. Usually the end of repayments would coincide with a career slowdown or even retirement, but with rent you're going to have to find that money for the rest of your life. So a mortgage is: * Cheaper monthly repayments now (typically), part of which is effectively long-term savings * Eventual disappearance of monthly payments and rent-free living during retirement * Eventual ownership of a significant asset, which may be cashed in or passed on via inheritance