There may be no equity or tax benefit in renting, but it is a way to help save money for a home. It is beneficial to save before you commit to a home. You have to work out the numbers. Of course you want a nice home in a nice neighborhood, but make sure you are comfortable with the numbers. Also, make sure you can keep up with the payment before you sign. Buying a home is the biggest investment you will ever have. Do your homework and you will keep yourself debt free.