We bought a small house in the Philippines shortly after I moved here but I was really bad at maintenance. After a couple of years a gas station was built nearby and the house is also a long drive away from downtown Davao. Because of that and some other issues we sold it and have been renting ever since. I don't really plan on buying another house since I am not good at maintenance. That is a huge factor in home ownership!
Absolutely, you have got to find the best solution for you and your family. You have a baby so the last thing you need is the stress of renovations. Also as kids grow up they need different things as well, when our boys were little they loved being in a garden and were happy to play there; now the teenage years are kicking in and they want to be in the town near their friends! As parents we have to adapt our lives all the time.
And sometimes the solution isn't the solution we'd prefer. I wish I was better at property management so that I could invest in a house that I could pass on to our son. But as it stands, I will need to find creative ways to offset not being a homeowner.
Thank you for making family oriented posts here on Steemit!