Myth #3: To buy or not to buy, that is the question
You’re always better off buying than renting
There is no one-size-fits-all solution as the reality of economics is volatile. If the monthly mortgage payment is way higher than the average rental in the market, then you are better off renting and saving the extra cash to be invested elsewhere. Other factors to be considered include the capital appreciation of the house owned, and your ability to cover the interest on a loan.
From a preference perspective, some might enjoy the nomadic lifestyle of hopping from house to house while experiencing a new environment under a new roof. Others prefer to be firmly rooted in a spot, where family and friends can gather for generations.