To continue renting or buy in a hot market? It's the perennial question, particularly for those weighing up whether spending more of their weekly budget on a mortgage now will pay dividends in the future, when it comes time to sell.
But in parts of Australia the choice may be a lot easier, with the portion of income needed to pay off a mortgage actually working out to be less than the amount of your paycheck that would be put toward rent.
In some areas, like the Snowy Mountains region in NSW and coastal locations, that's not a surprising finding - the high cost of seasonal rental accommodation there often tips the balance in favour of buying, even if property prices are astronomical.
But outside of the traditional tourist havens there are a number of major population centres in regional NSW, Victoria and Tasmania where paying off a mortgage could still be easier on your household finances than continuing to rent.
We've compiled a list of the top locations where it could make more sense to buy than rent using data from the latest ANZ Housing Affordability Report. But first, a few caveats.
Keep in mind that these calculations, provided in the latest ANZ Housing Affordability Report, assume you've already got the funds for a 20 per cent deposit on hand.
The repayments will be much higher if you take advantage of current low deposit schemes on offer, such as those offered by the Coalition and Labor during this election campaign which allow you to buy with a deposit as low as 5 per cent.
Also keep in mind that owning a house isn't as simple as paying the mortgage each month - there's council fees, maintenance and insurance to worry about. Future capital gains are never guaranteed either.
With that out of the way, let's take a look at where it could make more sense to buy.
Armidale, NSW
A typical household in the Armidale region would spend 29.9 per cent of their income servicing a mortgage on a median-priced dwelling there, compared with 30.7 per cent to service a lease on a median-priced rental.
The eponymous Armidale is the largest town in the region, serving as a the administrative centre for the NSW Northern Tablelands and counting the University of New England as one of its largest employers.
The median dwelling price in Armidale itself was $425,000 in February, according to CoreLogic.
Tamworth, NSW
It may be best known for its country music credentials, but the northeast NSW region of Tamworth - which neighbours Armidale - could also be a home ownership mecca, if CoreLogic's figures are anything to go by.
It takes 25.9 per cent of local household income to service a mortgage there, cheaper than the 28.9 per cent required to rent.
The median dwelling price in Tamworth was $450,000 in January.
Dubbo, NSW
Move to further to the south-west of NSW and the gap between mortgage and rent costs is even larger in the Dubbo region, according to CoreLogic.
It would take up 26.7 per cent of the household budget to service a mortgage, compared to the 30.8 per cent spent on renting.
The median dwelling price in Dubbo is $480,000.
Grampians, Victoria
Opting for a mortgage over renting could be a savvy financial move in the Grampians region, with loan repayments accounting for only 25.2 per cent of household income compared to 28.8 per cent for renting.
The region counts major population centres like Horsham among its numbers, with agriculture the main industry.
The median dwelling price in Horsham was $346,500 in February.
Central Highlands, Tasmania
A hot property market means its difficult to rent or buy in much of the Apple Isle right now, but owning could be the smarter move if you plan on living in the Central Highlands region.
That's because servicing a mortgage takes up 31.2 per cent of local household income, compared to the 35.1 per cent needed to pay the rent on a new lease (it should be noted that many housing experts believe spending more than 30 per cent of household income on housing costs is indicative of housing stress).
Ouse, which had a population of 303 at the 2016 census, is just one of the small towns that make up the Central Highlands.
The median price in Ouse was $285,000 in February, according to CoreLogic.
