There is no single answer to whether renting or buying is better for everyone. Compare location, how long you expect to stay, available cash, income stability, and costs over the period you care about instead of comparing one month of rent with one mortgage payment.
Include the costs of buying
- Down payment, transfer fees, and costs before moving in
- Interest and principal under the repayment schedule
- Common-area fees, maintenance, tax, and relevant insurance
- Costs when selling or moving, including the risk that the sale price is lower than expected
Include the costs of renting
- Monthly rent, security deposit, and costs under the lease
- The possibility that rent or lease terms may change
- Moving costs and limits on modifying the space
- The alternative uses for cash that would not be tied up in a down payment
Compare over the same period
Set a period, such as 5 or 10 years, and estimate annual cash flows for both options. State your assumptions about rent, interest, repairs, and the future sale price. Then test higher and lower assumptions to see whether the comparison changes.
Check affordability before buying
The Bank of Thailand advises considering what remains after expenses and existing debt, as well as the down payment, loan amount, interest rate, and term before buying a home. See its home-loan information and guidance on comparing home loans.
Buying may suit someone able to take on a long-term commitment who wants more stability in their housing. Renting can offer flexibility when work location or family plans may change. Each option has different costs and risks.
About the referenced video: The linked video is about dollar-cost averaging in NASDAQ, not renting versus buying a home. The comparison here is based on cash flows and the cited home-loan information, not on the video.