Major reason for renting is you are very mobile and travel a lot. For example I have traveled around and worked in several countries over last couple of years.

Major reason for renting is you are very mobile and travel a lot. For example I have traveled around and worked in several countries over last couple of years. If I had a mortgage somewhere I couldn't live like I do now when I can freely move to another country for a year for a gig, then move again. So renting gives you flexibility to move after jobs quite easily and travel the world while you're young, gain international experience and see other cultures. Of course, once I settle down in one place where I'd like to stay I will buy a property instead. But I haven't decided where I want to live yet. Once you buy a house somewhere you pretty much have to stay in that area for next 20 years and are limited to jobs in your local area. Of course, you can sell, but 1) that's a hassle and takes time 2) there might be a down market when selling for good price is difficult and then you're stuck in your place until market turns around. If you're renting you can move whereever economy is booming or there is some interesting niche job. Long story short, if you rent, relocating for jobs or expatriating to a different country is easy. So I'd recommend renting while you're very young (<30-35) and buy a property later once you are more settled down.