Should I buy a house or rent?

In previous episodes, finance expert Remeats and I discussed our decision to rent and the benefits of not buying a house. When deciding whether to buy or rent, there are several factors to consider. These include how long you plan to live in the area, the financial readiness to cover down payment, closing costs, and have an emergency fund. Also, one must consider the ongoing costs such as mortgage, insurance, repairs, property taxes, and utilities. Additionally, one should evaluate whether they are emotionally and physically prepared to manage a house and if they are willing to sacrifice social connections and convenience by living in a lower cost area. Another option is house hacking, where roommates can help cover the mortgage. It is important to assess whether buying a house aligns with your other financial goals. As for myself, currently, buying a house does not make sense as I travel frequently, have limited handy skills, and prefer the flexibility of renting. However, this may change in the future as my circumstances evolve and my financial goals shift.