Regarding the issue of renting versus buying a home, personally and logically thinking, the advantages of renting is clearly superior over buying for a few good reasons. Your financial burden of paying rent is less than having a mortgage, spare money will be available to spend on other investments, and finally you are less attached to your dwelling (less incentive to renovate) etc.
Although the advantages favors the rental side, my parents in Hong Kong eventually chose to buy a home after more than a decade of renting apartments. I have asked them the reason behind this decision, and the obvious answer was the psychological security of ownership, accompanied by the ever rising property and rent prices years back. However, their final reason was surprising: they considered owning a home to be an investment to me and my brother. The apartment is not just for their own security in old age, but also provide us security in the future. Touched by their actions aside, it made me reconsider the option of purchasing my own home as an investment for my own children.
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