I was reading this article recently where a couple in their thirties were expressing how they are debt free where one of the key reasons for their success is by not owning a home. Instead they invested that money and now they live their life by constantly traveling. They even dubbed home ownership as a cult of sorts where many people are simply putting themselves into debt that way. While there was a lot of debate as to how the couple even saved all their money in the first place this got me thinking about how smart it is in reality to not own a home of sorts.
In my opinion I think it come down to lifestyle. Like for this couple imagine if they had kids. I can’t see how that would be feasible where they will now have to constantly fly and travel everywhere with a child where you would like live in hotels for your entire life. In that sense, the financial benefits of living without a home seems a little gimmicky in my view where it feels more like one would be promoting that to say sell books and such.
If anything, I feel that when it comes to a home it’s more about buying things that are way beyond your means and needs. For example, a single person buying a three to four bedroom house just so that they can say that they own a home as many people attach that to one’s financial success. If you were doing it more as an investment then that is a little different of course. There are plenty of people who buy “tiny homes” too as an example where they avoid so many of the common fees that put other people into debt. So is it a smart financial decision to not own a home? Generally speaking I don’t think it is for most people.