Now that I’m finally moving towards buying a home instead of being a serial-renter, it’s interesting to read some opinions on benefits of buying over renting. When you own a home, it’s harder to move, therefore harder to move jobs. It’s better to diversify your investments. A house is expensive. Your house will appreciate less than the stock market. In short, the only reason to buy a house is if you want to own a house.
When reading articles like these, most people mention Germany, where only 41% of people are home owners (compared to 69% in the USA, 70% in Australia and 81% in Ireland). Germany is one of the wealthiest countries on earth, and the people are happy to rent – why shouldn’t we?