Buying a home is supposed to be The American Dream. Renting is something you do up until the magic moment when you’re “ready” to buy.
But I like renting. I like that if something goes wrong with my apartment, my landlady has to fix it. I like that I don’t need to worry about whether I’m “underwater” (terrifying image) if the market fluctuates.
I don’t consider paying rent “throwing money away.” I’m spending money to ensure that I get to live somewhere wonderful, and that all the responsibilities of improving and maintaining that property are not mine to worry about.
Having a kid is similar to buying a house: a multiyear commitment that you have to ride out, even when the circumstances become difficult. I’m a renter. I play with my friends’ kids. I babysit. Then I return them to their parents. Their devoted, patient “owners.”
Neither renting nor owning a home is necessarily a better financial choice. It all depends on the economy in your region, your long-term goals, how much you have saved up, and how much flexibility you need.
Same with having kids, or not. Both good choices–potentially. But ladies and gentlemen, please choose carefully. You don’t want to end up underwater.