I have just recently purchased my first airplane. I say first because I am pretty sure I will purchase others in the future. For me, I spent HOURS running numbers trying to figure out if it was cheaper to rent or own. For ME and ME only in this case...it worked out cheaper to own. Now my plan is to get the tickets and do the freelance instructor thing when I retire from the AF. It's a low-time Cherokee that is IFR. Sure, it's not the sexiest plane out there, but it will suit me great for time building and in the future...instructing. There is a "breaking point" where owning is cheaper, but usually it's higher for those who fly less than about 12 hours a month.
I have had the plane for about a week and am LOVING it. It's great not worrying about scheduling a plane for a trip, or just doing a last minute "jaunt to the airport" for a couple laps around the pattern. Of course, when a radio burns up or something else, ask me again and I just might be cussing the thing. Time will tell, I guess.
You know best what your goals are and if buying will help you meet those goals. I will also agree that this is a good time to buy...it is a buyer's market, but there is a reason for that...pricey avgas!!! If I was in the position to do a partnership, I would have done that but since I am on the hook with Uncle Sam and could be sent anywhere at the drop of a dime, that isn't a smart thing for me. Selling a house with little notice sucks, selling a plane with little notice would REALLY suck!
And as always, ymmv.