At my age (over 50) I’ve heard every argument for both sides…
So ya home-ownership can be great… and part of the reason that it is is so touted as the thing to do for young couples.
Part of that comes from the idea that you really do OWN something, and statistically (at least up until the Depression of 1929, and then up until the recent American Recession) investing in a home was a great way to keep ahead of the curve when it comes to interest rates, and high returns on one’s money
BUT to be honest home-ownership isn’t for everyone. It is expensive.
Significant Down Payment – Home Inspection – Real Estate Fees – Lawyer Fees – Land Transfer Taxes – Closing Costs – Municipal Taxes – Moving Fees – Utility Account Set Ups etc
And that is BEFORE you even move in
Owning a house is an ongoing cash layout. There is no escaping the endless supply of things that need to be bought, maintained, upgraded or replaced. And all the ensuing items that go along with that.
As others have said, renting has a lot less worries… furnace breaks down… you call the Super… not see yourself needing to suddenly come up with $ 4000 to replace it (can’t put off such a purchase if you are in the middle of winter with temps hovering below 0)
Truly, home ownership is a HUGE commitment, and not something ideal to everyone or their lifestyle.
Everyone needs to make up their own mind on this, and what REALISTICALLY will work for them (otherwise Home Ownership can end up being a HUGE MONEY PIT sucking the life out of one’s Bank Account and their relationships)
EDIT TO ADD – As a Newlywed, I’d never want to live with anyone else… Parents, Family etc. Just not condusive to getting one’s marriage on track and building a life / nest together IMO.