Thanks, Lynn. Yes, we paid off our mortgage early and never regretted it for a moment. I understand what you say about retirement. I am very happy being semi-retired, but plan to continue doing some work as long as I am able.

Thanks, Andrew. You make some very interesting points. I do agree that for young people there are advantages to renting rather than buying – in particular, the flexibility it allows you to live and work in different parts of the country (or even different countries) as you pursue your career.

I’m less persuaded by the investment argument, although I do see where you are coming from. The fact remains that if you are renting, this is really a large chunk of ‘dead money’ every month that is paying off your landlord’s mortgage or simply lining his pocket. Really, as soon you are reasonably settled, I think it’s desirable to get on the property ladder. That way, you will be building up equity in your home as its value increases while the outstanding mortgage reduces.

We’re all told of the advantages of getting on the housing ladder. But if you’re young, there are huge benefits to renting too. Flexibility in location, allowing you greater career flexibility. You don’t have to worry about house maintenance and emergency repairs.

There’s also an opportunity cost in a downpayment. The downpayment is not only tied up in the property, but whilst you save for the downpayment (possibly for years) it’s likely sitting in a low wielding savings account. If you knew you were renting for 10 years, you could invest in an asset more likely to produce greater returns, like an equity index fund portfolio. There’s the danger that when young people buy, their whole asset portfolio becomes skewed to, not only real estate, but a single property investment.

Thanks, Emma. Yes, buy-to-let has lost some of its appeal in recent years for the reasons you state. I strongly advocate buying rather than renting because of the many advantages of owning a home as you get older. But whether to invest in other properties as well is a more difficult call. Personally I prefer to put my money into equity-based investments (e.g. my Nutmeg ISA), although I do have some money in debt and property crowdfunding platforms as well. Diversification is the key!

Thanks, Jim. Yes, absolutely!

Thanks, Tracy. Yes, whether we will need to go into care (and the cost if we do) is probably the biggest ‘known unknown’ any of us will have to cope with in our lives. The government really needs to provide more clarity about this issue, which is constantly being kicked down the road.