The 'renting is throwing money away' message dominates UK financial culture. The actual maths is more nuanced. In several markets and at several life stages, renting plus investing the deposit difference in a global tracker beats owning.
When buying genuinely wins
Long-term stability (10+ years in one location). Mid-tier UK city with reasonable prices. Children whose school catchments matter. Late career, working backward from owning outright by retirement.
When renting can win mathematically
Job mobility (likely to move within 5 years — transaction costs eat appreciation). Very expensive markets where buying requires massive financial stretch. Renting in zone 1 plus saving the difference often beats owning in zone 6.
Run the actual numbers for your specific situation rather than defaulting to the slogan. Sometimes renting is the financially smarter choice.