If u don't have a place of your own, not staying with parents/relatives (for free), not provided accommodation by employer and have to pay rental ... priority should get one for own stay first.
I go for both! First property can stay, rent or sell! If after complete if the place is very nice and I'm not despo for cash can go stay few years while waiting for price to appreciate! Save money on room rent also! If got good offer for rent can cover loan, then rent out! After few years if price is good, then SELL! hehhehe! Flexi a bit ma... ;p