[alistairSH]

Why do you say that about fixed rate mortgages? Are they not available in the UK? They're readily available in the US.

HOAs can be a pain, but aren't universal. The HOA that covers my home approves exterior changes, collects fees to cover shared property maintenance and insurance, and that's about it. No limits on pets (beyond county rules, mostly dealing with livestock). No limits on interior renovations. Etc.

Even with regulated rent increases, you still end up paying more over time. With a fixed rate mortgage, you pay less per month over time (after inflation). By the time you retire, the house is yours, with only taxes and insurance to be paid.

[Eridrus]

I don't think 30 year fixed terms exist outside the US.

In australia most mortgages are variable rate and I don't think I've seen anyone advertise longer than 5 years fixed.

[someguydave]

Yes the 30 year mortgage is a creature of extensive US Government involvement in finance. 30 year mortgages wouldn't' exist if they had to rely on private money for funding.