$725 / month for rent... is throwing money away?
What is $200 in taxes/insurance, $150 in maintenance, $300 in interest payments, $100 in repairs, $50 in water/sewer/trash?
(And if you don't have 20% saved for a down payment, $30-50 PMI...)
Ah, that's an investment :-)
Owning a home can be awesome, particularly if you stay put at least five years (preferably seven+) and you minimize interest costs, shop around for homeowner's insurance, do as much maintenance and repair work yourself, and avoid lifestyle expansion. (For example, moving from a 600 sq ft apartment to a 1200 sq ft house tends to call for new furniture, window dressings and various other purchases.) But there's a time cost in "doing maintenance/repairs yourself" not to mention things you often do not have to worry about in a rental - mow, snow, maintain driveway, trim the hedges, wash the siding, refill the salt, replace the water filters.
Since the Mustachian lifestyle is very much about freedom to use your time for important things, you should have a really good idea of how much you enjoy home maintenance before you decide to lock yourself into ownership, and are pretty much stuck with those tasks (or chaos, or expensive help.)