Flying your own airplane CAN be cheaper than renting, but only if you fly
quite a bit -- at least 150, and more likely 200, hrs per year. Very few
private pilots have the need for that much transportation. If you will be
flying a more typical 50-75 hrs/yr, if cost is a factor and you don't like
renting (and who does?) then the best options for you are joining a club or
co-owning an airplane with one or more partners.

What kind of plane? As a new pilot, you are probably looking at a basic 4
place fixed gear, fixed pitch prop model. If you feel you need more
performance than the ubiquitous Cessna 172 the next step up is something
like a Piper Cherokee 180/Archer. Of course, the newer 172s also have 180
hp engines like the Archer and have comparable performance.

Here is a link to a site that provides performance specs for a number of
popular models:

http://www.planeandpilotmag.com/cont...ecs/index.html

-Elliott Drucker