It's a home first and foremost, and a monetary asset second.
If your model is 'grind your 20s-40s away living in a box and then move out' then I implore you to read my comment again.
I am in my late 20s currently, and I'm open to a change in perspective. Maybe there's value in consistency that I will appreciate more at some point. But being told that I won't count as a senior professional until I care about buying property irks me.
My claim is that a senior professional (in _any_ field - not just a senior developer) doesn't care about the cost of rent.
It includes your scenario - of course you should be able to rent and move about if you want to.
If the cost of the rent is heavy on your mind, your position is not that of a senior professional.
The title has become meaningless because it's effectively become an entry-level job.
(Externally it looks like in SF, real entry-level jobs result in, well, homelessness or living in a van or something).
Money-wise, you're no longer throwing it away on rent, but paying down a mortgage that eventually is paid off entirely.
On top of that, you're also no longer racing against the end of the rent contract, and can wait a bit - or move earlier - to find a new place you really like.
The turning point for me was, here in Chicago, when I was renting and my dad sent me some properties with the costs laid out: These places were significantly nicer, and the mortgage cost per month was ~60% what I was paying in rent.
- Illinois is broke and is going to increase real estate taxes every year for the foreseeable future. So while you can also sell to escape the tax bill, the value will just drop to compensate. - There are many fixed costs to buying a place that aren't reflected in the monthly bills. Such as closing costs on both the purchase and sale (including chicago's lovely transfer stamp tax, realtor commissions, etc).
Also keep in mind how many high-rise condo buildings are going up right now. This can only be bad for prices of "old" condos around the city.
I often wonder if London looks worse externally than it actually is (you can afford a house or apartment here if you have a professional job, it's just probably going to involve commuting and not be in a prestigious area).
Of course, if you're something actually socially useful like a teacher or fireman, you're buggerino'd.
I use the term 'house' out of laziness. It's more a commentary on the fact that a 30 year old renting is just incompatible with a decent life in the UK (outside of some secure older council tenancies) whether you live on the ground floor or the fifth floor.
You'll probably have to move every year or two - it's not yours to decorate - the furniture might not be yours - it's not a home, it's a longer-term hotel.
That might be different elsewhere.