I have a sister who is doing quite well financially and doesn't own a home. She views them as money pits. She has a small apartment, lives frugally, and socks away her money.She doesn't want the maintenance hassles, shovel snow, mow grass, or any of that stuff. She is content to let others worry about it all.I also rent. It's a condo in a gated community where they take care of all that as well.It's tempting to take advantage of the ridiculously low mortgage rates, but I'm not going to do it. I live in NJ, where home prices are very expensive, and property taxes are the worst in the country.Plus, I don't want to be restricted from moving in case I decide to move. I might be able to sell or rent out the house if I want to move, but that definitely introduces additional risk and bother into the equation.
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