Should I buy or rent in Singapore?

Not a comprehensive comparison, but I did a quick search on rental prices on propertyguru for flats of similar sizes in my area, and it's about the same amount I am paying for my monthly instalments. Not sure if there's any difference in amount to invest.

The main difference would probably be the down-payment, which can be offset with all the different grants.

Also comparing buying and renting, you pay off your bank/hdb loan in 25 years and you own the flat/condo, while you pay rent for 25 years and own nothing and continue paying rent for the rest of your life. Not to mention the potential profit after MOP if you managed to BTO at a good location - look at Dawson or those DBSS at Toa Payoh or Boon Keng.

Plus, like you mentioned, you can rent out a room to earn some side income.

It depends on your circumstances and the timeframe that you are looking at.

If its for the long term, and you can avoid to pay for the upfront cash payments for a house, I would think there are many more benefits to buy a home than renting in Singapore.

For one, your CPF contribution should easily take care of monthly instalments. If you rent, I think that has to be out of pocket instead of CPF.

Buying also automatically puts you into the experience of being involved in the property cycle, and forces you to become more attuned to the market... whether you like it or not.. this is the intangible benefit some people fails to recognise.

Having your own home, also means you can have the flexibility to create your own environment within your nest. Its definitely good for growing a family.

... ... there are many other reasons. Just need to think broadly and deeply on the meaning of having a home.

Cheers