In my lifetime, Iāve only āownedā one home and thatās because my wife at the time wanted one better than the one she had. My current wife has been nagging me for 25 years to buy a home and Iāve done my best to deal with it ā we still rent.
Hereās a financial planners reasons for not buying:
1. Single family homes are not good investments
2. There's an opportunity cost to saving (for a down payment) versus investing
3. It's harder to manage cash flow as a homeowner, making it difficult to consistently invest
4. A house can limit your freedom and flexibility
5. Renting means getting to live lighter
6. I'm just not interested [This is me!]
Explanations @ I'm a financial planner ā here's why I won't buy a home