[nattaggart]

Good point, but it's not just about limiting one's ability to move. Tying up most or all your savings in a down-payment plus taking out a large credit line sometimes means not having the freedom to invest elsewhere, go back to school, start a company, or start a family.

[vonmoltke]

Honestly, the "freedom to move" thing is a red herring in these discussions. There is a whole lot of friction to moving that is not tied up in how you pay for your residence. For most people, loss of social networks, loss of nearby family, and disruption to children are much bigger barriers to moving than owning their residence.

That said, the other features you mention are much better examples of limits that come from buying. It really depends on how stable real estate pricing is and what direction the market is trending.