Things must be really different in the US then.
The downpayment here is really not an amount that you can make any serious investment with. Even if I made it I could not afford to put it in high-risk/high reward investments and the low risks ones are not even worth the cost of blocking the money.
- I can still move freely for whatever reason i want. I simply sell the house and buy a new one.
- the cost of changing a kitchen once in 20 years in your example but even once in 10 years is insignificant and the fact that I choose it according to my needs instead of getting whatever I find more than make for the cost.
- I have no stress of needing to move (generally the more flexible rent agreements that allow you to move out whenever you want also come with the risk of getting kicked out or rent changing significantly)
But again all comes down to the difference of rent vs mortgage and here in Europe for most people the difference does not make sense. let's talk specifics.
Let's say rent is 700eur/Month and mortgage is 800Eur/Month. the difference is less than you would spend for frivolous, spur of the moment things.
- I can still move freely for whatever reason i want. I simply sell the house and buy a new one.
- the cost of changing a kitchen once in 20 years in your example but even once in 10 years is insignificant and the fact that I choose it according to my needs instead of getting whatever I find more than make for the cost.
- I have no stress of needing to move (generally the more flexible rent agreements that allow you to move out whenever you want also come with the risk of getting kicked out or rent changing significantly)
But again all comes down to the difference of rent vs mortgage and here in Europe for most people the difference does not make sense. let's talk specifics. Let's say rent is 700eur/Month and mortgage is 800Eur/Month. the difference is less than you would spend for frivolous, spur of the moment things.