I got tired of renting, and I looked it up, I realized I'm paying the equivalent of a $300k property for a standard 30-year mortgage in rent. And a $300k house is much nicer than my apartment.
I saw a $50k condo down the road from me. It looks not quite as good as my current apartment. Getting a mortgage for something like that is much better than renting, right?
Yes. Even with mortgage insurance it's still cheaper than renting. Only potential downside is you're more tied down to that particular unit than with renting, but if you're ok with that, then there's no reason not to buy.