Will I save money buying a home? I currently rent at $1300 per month. I'm looking at a $250,000 home. Explain?

I have rented for $1300/month for over 5 years. I am looking at a home for about $250,000. I probably can put about 5-20K down-payment or go with a 3% down. How will I save money if I buy? Will the first time mortgages for low income folks work. I earn about 50K per year but make my rent. Will the tax break help?... show more I have rented for $1300/month for over 5 years. I am looking at a home for about $250,000. I probably can put about 5-20K down-payment or go with a 3% down. How will I save money if I buy? Will the first time mortgages for low income folks work. I earn about 50K per year but make my rent. Will the tax break help? Owning seems better. I understand if something breaks I pay but I'm just interested in the raw finances.
Let's say I sell in 5 or 10 years, even if I don't make back my sale price, isn't it better than renting ( I get something back right?) Please help.
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