The issue that is often overlooked is the value of the down payment.
Say your home is $100,000(i know, i know lol). Your 20% down payment is $20,000.
You have to factor in the interest that $20,000 would generate in say index funds or whatever you would do with it, when comparing buying to renting--along with all of the other stuff people usually factor like taxes & upkeep.
In some areas this can make renting actually the cheaper option.
The down payment and cost of transaction, including inspections, taxes, and real estate agent fees, loan origination fees, other fees, cost of moving etc. In an average housing market it can take 5 years for those to pay off when compared to paying rent (do your own calculations, mileage varies dramatically).
Unless you have enough cash to pay for a house, you are either renting money or renting a place to live.
Say your home is $100,000(i know, i know lol). Your 20% down payment is $20,000.
You have to factor in the interest that $20,000 would generate in say index funds or whatever you would do with it, when comparing buying to renting--along with all of the other stuff people usually factor like taxes & upkeep.
In some areas this can make renting actually the cheaper option.