Renting is fine. Most places have extended rental rules for longer trips that simply have a minimum number of hours the aircraft needs to fly during the trip or you'll be billed for the hours. In most cases, they're set up such that a typical trip will cover the hours easily. Mostly to keep someone from doing like a three week trip only a couple hundred miles away, and the rental place losing the revenue the airplane would have made them if it stayed home.
As far as what "most" people do, I can't say. If your rental place has a decent number of aircraft and choices, and the schedule isn't always horribly "tight", renting may be a fun way to fly different types (you'll probably need an aircraft checkout in each, insurance being what it is...) and see what you like to fly, before buying anything. Also gives you access to aircraft you may not be able to afford.
Ownership has a different set of pluses and minuses, but means you usually have the keys in your pocket and don't need to schedule jack... You just go to the airport and open hour hangar or pull it off of your tie-down and go flying whenever you like.
And there's stuff in-between. Co-ownerships and clubs, even non-profit clubs, with nice aircraft and half or less of the fiscal outlay. I think personally these are the best of both worlds, but I'm biased. I'm 1/3 owner of an LLC that owns a 1975 Cessna 182 P-model w/Robertson STOL kit. The bills are spilt three ways except for consumables (fuel mainly) and we pay ourselves an amount per hour into the LLC for engine time, so whoever flies the most ends up paying for a larger chunk of the next engine overhaul. The LLC used to rent a hangar but a good deal came along and we voted to buy the LLC a T-hangar a while back, too.
All sorts of ways to do it. But at first, renting is fine. You'll find once you own which airplanes on the field are "good deals" for rentals and which ones someone is maybe making a few bucks off of, but usually not much.
You'll also find when you shop co-ownerships and have to join the insurance as a named pilot on the policy that low flight time and low time in type will increase the insurance rates for a while for the co-owners. You'll have to either get more time in type by renting or work out a deal to pay extra on the insurance or whatever until the premium comes back down. Doesn't take a lot of hours and you'd probably easily have them in first year in a co-ownership. Hammering out little details if it's a new co-ownership is important... Like if I go flat spot a tire doing something dumb, I should probably pay for it, and not make the others cover my mistake. Stuff like that.