[kccqzy]

There are plenty of psychological drawbacks as well. Consider for example that the fence between your house and your neighbor has become dilapidated. But your neighbor thinks it is fine and will not pay for a replacement. What do you do? Replace the fence without cost sharing? Argue with your neighbor on the condition of the fence? Or even after your neighbor has agreed, the act of selecting a mutually acceptable contractor to carry out the work? A lot of this feels like being a project manager, and if your day job is a project manager or even a senior engineer who sometimes wears the hat of a project manager, this could feel like a second part-time job.

[rahkiin]

Instead you rent, and your landlord agrees that it is fine.

So now you look at a shitty fence. Which you could have done when owning the house too

[kccqzy]

Well no. If you have home insurance, your insurance provider can deny you coverage based on the dilapidated appearance of the house. If you have renter’s insurance, it only covers your own belongings and won’t be affected. And as a renter you can use it as a tool to negotiate for a lower rent; good luck negotiating a lower mortgage payment or property tax.

Furthermore if neighbor relations deteriorate you can always move; as a homeowner you are still stuck with an expensive asset with large transaction costs after you move.