Not to mention factoring in the cost of insuring the home.
We are servicing a mortgage AND paying rent, but the mortgage is on a farm and the rent is cheap, through DP's boss (a dairy farmer who owns the house we're in and even if he sells this house he'll move us into anothery, just to keep DP on!). We're also planning on selling the farm this year and easing that payment stress (it's not a huge repayment, as we put up about 3/4 of the equity).
Anyway, having owned a house before buying the farm (we lived in a shed with minimal costs before moving to the rental) I can definitely see the appeal for renting long term! However, DP is handy and there are things we can't do ... but then, this isn't a house we'd readily own because of the work that would go into it, so we're happy to have all living and much less responsibility It also helps that we're not on a contract, not through RE and DP fixes things around here and puts costs on the tab at the local hardware. Every situation is a little different and the big weigh up to be considered - including all those 'hidden' costs of owning a house.