Rent and utilities are only part of the story. I'm reminded of that old saw about what are the most important factors in real estate:
1. location
2. location
3. location
Location effects many important things, including the number and quality of neighbors, what sorts of things happen after dark, and generally what will be considered "normal" in the local culture. You can change a lot of things about a property after you buy it, do a lot of fixups, remodelling, heck even totally tear down and build up a new house on the land. But you'll have a much harder time changing the sorts of neighbors and larger community you'll have. Especially over the short/medium term.
