[jameshart]

Nor can you customize rented property to suit your needs more precisely. Want to run ethernet to every room? convert one room into a gym, or a recording studio? Add more space? Not your property, so not your call. Nor can you guarantee that a rental property will continue to be available at a cost you can afford for a long time. Your landlord may elect not to offer a lease renewal. And if you have kids in school, or just strong local connections, or a sweet commute you want to preserve, that's not a disruption you want someone else to be able to impose on you.

[kyllo]

Or, if rents in your area go up, your landlord might ask you for hundreds more per month in rent when it's time to renew your contract.

I was renting a place for $950/month starting in 2011, then for 2012 it went up to $1,050, then for 2013 the landlord wanted $1,350/month to renew. Meanwhile home prices were still low (30% of inventory still short sales in my area) and mortgage interest rates were under 4%. No-brainer. I now pay less in principal and interest than I paid in rent, for a much larger, nicer house compared to the apartment I lived in. And my mortgage payment is never going to go up. (My property tax bill might go up, but that just means my investment is appreciating.)

[alex4nder]

I've seen these types of customizations worked out with /some/ rental property owners, depending on lease terms. Akin to commercial 'tenant improvements'.

[arh68]

>Your landlord may elect not to offer a lease renewal.

Funny you say that: I'm strongly considering buying, and my landlord elected to not offer a "heat pump renewal" when the A/C went out. Hello window units, goodbye rental hell. Rental markets are not all alike, and this one's not too healthy.