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by nolanbrown23 5194 days ago
Buying home is not for everyone but renting is NOT always better. It's better when you only need a studio or 1 bedroom but once you have a family and children, renting a 2 or 3 bedroom apartment make no financial sense. In San Francisco, I'm looking at $1000 more in rent going from a 1 bedroom to a 2 bedroom and can expect that to continue going up.

If you buy smart (i.e. not at the top end of your budget) with the intention to pay off your mortgage (not sell/buy every 3-7 years), you're in a far better position then someone who still has ~1/3 of their monthly income still going out the door. Even if you don't pay off your mortgage, you have the possibility to refinance, reducing your monthly nut making it far easier to survive as an entrepreneur.