"It's extremely hard to come out badly if you are prepared to hold a property long term" You seem to equate some appreciation in house value with "not coming o

"It's extremely hard to come out badly if you are prepared to hold a property long term" You seem to equate some appreciation in house value with "not coming out badly". Well, if that's all you want, then fine. You can consider things as not having come out badly. However, if your definition of "not coming out badly" is actually more like, "having done better financially than renting" then it's a much more complicated question. Renting can leave you with better financial outcome even in cases where a hypothetical purchased house appreciates greatly. Not always, of course, but appreciation in value of the house is just one among many factors in the rent vs. own equation.