Originally Posted by minute_man
Thanks everybody for your input. Some very interesting views shared so far.
Indeed seems to me that one's stage in life would be a deciding factor but then it's also where one wants to be, after all.
I left home right after completing my military service obligations, on a small loan, which helped me take my first steps away from the nest, rent my own place and allowed me ample time searching for employment.
That loan amounted, roughly, to a month's salary from my profession.
I was eventually employed, followed a career, paid off the loan, got married and, at some point, ended up with some significant savings in my mid to late twenties.
So I seriously began considering a place of my own on a mortgage and had some quarter million approved for a house that I liked. I never, ever thought of, or counted on, existing family property. Wasn't mine at the time anyway.
I could comfortably pay for my mortgage on monthly basis and perhaps pay off a good part of it rather soon, as the house's price was less than 180K so not all of the approved amount was needed and still had my savings...
Then, the week just before signing, I lost my dad. Which forced me to reconsider. I canceled the purchase, continued to rent while spending a good chunk of my savings repairing and remodeling the family house as well as other taxes, inherited debts, etc.
Looking back, I somewhat regret not pulling the trigger on that house but that was before the 2010 crisis here and quite frankly, I can't help but feel as if I had actually dodged a bullet.
Because although I never intended paying installments for the next three decades, paying off the mortgage in just a few (4) years, was certainly not on the table.
Ever since, I've landed firmly on the 1st camp / school of thought and try to avoid debt at all costs. Even if I'm missing out on some pleasures this life has to offer.
I find it much more liberating not having to put up with things and situations I do not consciously decide getting myself into.
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