I'm going to give a different perspective. I became a first time home owner last December, but I don't live in it. Instead, I continue to rent my studio apt in Queens and plan to rent ou tthe house.
For context, I bought a 2 family brick home, built in 1899, in Brooklyn, NY. The house itself didnt look very exciting, property came vacant in what realtors describe as TLC (tender, love, & care). Theres quite a bit of renovation work to be done, which I'm still finishing up.
You know before this I was looking for something on and off for about a year!! So to finally close was an incredible feeling. But I wasn't looking for a home, I was looking for an investment. So for me the important factor was strictly financial, not things like "oh is there a nearby daycare?", etc. And as things stand, even with the complete remodel work and lost rental income amortized, I am looking at a positive cash flow based on projected rent in the area. Infact, things are looking good, I already have 1 tenant approved - an optometrist with his own practice nearby.
Where I do feel an emotional attachment is knowing that I now own a piece of Brooklyn, one of the hottest markets on the planet, even if I don't actually live there
