Can Renting Be Better Than Buying?

March 23, 2010 Leave a comment

Rent or Buy?

Current market conditions, coupled with growing concerns over housing affordability, are causing uncertainty for home buyers who are wondering whether they should continue to rent or commit to buying their own home. 

It all comes down to what suits individual’s personal and financial situations best. Renters and buyers should consider which will be best for their net wealth and cashflow over their lifetime and seek good professional advice.
 
Renting offers great flexibility, is often a cheaper alternative to buying, especially in the inner city areas particularly favoured by Gen Y-ers who want that urban lifestyle close to where they work and monthly rental payments will usually be less than a mortgage repayment for a comparable property along with maintenance costs, repairs, rates and insurance bills which are the responsibility of the property owner. 

However, buying a property means you are able to put your own personal stamp on the property or make it reflect your individual style and design preferences, and eventually you will own your own property and no longer need to find monthly repayments. 

With advice and assistance from a real estate agent, who has the necessary knowledge, experience and skills to understand the market, its trends and its weaknesses and opportunities, the right decision can be made.

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