TS, I had the same hesitation before I decided to buy a condo and own some property.

To cut the story short - if you plan to be single, renting maybe a good idea. But if you have family or planning to get married, owning is good.

Buying a house is a form of investment in your life. Everything in life has its cost. Buying a house means you have to trade off some of the luxury and comfort in life , maybe temporarily for next 20 years before you finish the loan. But in return, you have the comfort that you have your own place, own house, own condo.

My advice to you is, even if you decide not to buy property, KEEP the CASH, and don't YOLO it away. Cash will become your security for old days.

I got a friend who YOLO , now 44 years, still renting. I think his old days are a bit insecure.

Dine out quite frequent , Starbucks , gym, travel. Not much savings from what I heard.

unfortunately that's how the modern economy works.

T20 loan cash to banks, banks loan it to M40, B40.

M40/B40 pays interest to banks, banks pay interest to T20.

Owning a home different from renting...

Renting, you don't really feel you have a "home".. you are not willing to renovate or buy anything in rented home/room because it will "benefit" the owners.

You are also at risk to be booted out when landlord wants to increase rent or stay themselves...