Home ownership used to be the American dream. "Family and a house with a white picket fence." Ok, I just dated myself. That is what everyone aspired to. That is how you were judged to be successful, I am talking about in the 1960's and up.
With it being the 2017, I certainly hope that people have evolved along with everything else and don't judge others on materialistic things.
Buying a house is personal. Is it the right decision for you and your loved ones?
I am single and have no children. I do not own a home and have no desire to. I am 57 yrs.old and have no need for a house. When I was younger I owned a couple of houses. Haha, I didn't own the home the bank did.
Mortgages on homes are usually 15 year or 30 year loans. I don't think I would live in a home for 15-30 years, so I would never own that home.
If you are a young couple and plan on having a family, then you need a space for growth of that family. So yes, you probably will own a home. I say the word own loosely. You might own it some day if you stay long enough.
So my believe is essentially that everyone rents their home.
The only way a house is an investment, which they used to be, is if you make money out of it after you sell it. In this day and age it's awful risky anymore with what is going on in this economy.
So good luck to you either way, and as always do your due diligence before making big financial decisions.
If your interested there is some more information in this article on Yahoo Finance
Check in tomorrow, I would like to share some "secrets" on purchasing a home.
Please share if you have anything to add.