Rent is not throwing your money away, though the current entitlement generation thinks it is. You have to pay for shelter, one of the most basic needs of being human. Apparently, video games and big screen TV's are more important these days
Seriously, if you look around you can find a good cheap apartment. Alternatively, look in the paper for people who have a separate apartment building on their property they want to rent out, usually these are cheaper than living in apartment complexes and you will have a bit more privacy. If you live below your means, you can continue to save money without the responsibility that comes with owning a home (if you are young as has been suggested). Most young people who get into houses too early have some regrets about it. There is nothing wrong with paying rent for a couple of years until you decide where you want to live: remember, once you buy a house it will become your permanent place of residence, and is much harder to move if your community needs or income changes suddenly.
However, if you feel comfortable with the idea of owning your own house, I suggest not maxing out your mortgage payment every month. Look for a place below your means but with plenty of room. You can live there for 5-10 years while the property appreciates, and when/if you start a family you can always sell and move into a nicer house.
Hope this helps your decision, and good luck!