True but if you need to replace the roof tomorrow you suddenly have an unexpected expense of $20K+.
But in general I agree with your point. Buying a place is about stability and control. Especially no one can kick you out as long as you make your payments. I don't think it's a better investment option out there but it's safer for most people than investing in things they don't understand. And if you happen to buy a place in an area that is booming in the next few years then it can really be worth it. But that's the same like buying early a stock of a company that makes it big.
I wouldn’t go that far. If that place is “booming” likely so is all the other places that are similar that you would like to live. Unless you sell and move to a much lower cost of living area, the equity in your house doesn’t help you.
If you go by the popularly accepted rule of thumb, you should put 1% of your house’s value in savings for unexpected home repairs per year. Feels a little high to me.
But in general I agree with your point. Buying a place is about stability and control. Especially no one can kick you out as long as you make your payments. I don't think it's a better investment option out there but it's safer for most people than investing in things they don't understand. And if you happen to buy a place in an area that is booming in the next few years then it can really be worth it. But that's the same like buying early a stock of a company that makes it big.