Before committing to a mortgage, it's worth considering the pros and cons of renting versus buying. Let's have a look at them now. The idea that renting is throwing money away can be a misconception. You're getting a place to live and you're not paying interest on a home loan. When you pay a mortgage, you hope to eventually own your house outright, but there’s always a danger it won’t be worth what you’ve spent on it when it's time to sell. There are all sorts of hidden costs