Buying a property has long been the great Aussie dream. For years, Australians have yearned for and aspired to buy their own proeprties. However, in recent times there has been more emphasis on renting properties rather than buying outright.
I live with my parents, so have never come up against this question yet. I know I would much rather buy. You can feel far more secure knowing you own a property, and can feel like you can put your proper stamp on it. Renting usually means a smaller property or flat as well, and you might be sharing the building with someone else. I'd want my own space.
In the long run it is cheaper to buy than rent, but many cannot afford to make the initial payment, so have no choice but to rent.
For many people it's not a question of preference unfortunately. Lots of people would like to buy but can't afford to. Renting does have some advantages, like not being tied down if you're inclined to travel or think you might want to change jobs and would need to move closer to work. However, I can say from experience that having to move every couple of years because the rent has gone up, or the house isn't being maintained properly, or is being sold, or any number of other things not in your control is a massive pain in the backside. There seems to be little point in trying to establish a garden when you're only going to have to leave soon and you can't paint a room or bang in a nail without asking permission first. I'm looking forward to living in a home of my own soon.
Buying. Having your own home is fantastic, and should you decide to sell - you achieve the capital growth upside in most cases. So fortunate as my monthly mortgage payments only require a days work a month. It is doable.
Depends on the type of person. I like to rent because I don't like to be in one place for a long period of time. Renting gives me the opportunity to live around the country and experience different cultures.
Everything depends on the individual’s circumstances. Renting gives the flexibility of moving around, not requiring a huge down payment as deposit and can be quite stress-free. Whereas buying a property involves committing to a mortgage for several years, saving up a chunky deposit and being responsible for upkeep of the property and additional expenses such as council rates. Having said everything, oneday hopefully the property will become yours after you pay off the mortgage and you will have the security and peace of mind of having your own place. My motto is: Why pay for someone else’s property by renting when you can pay for your own. Owning a property is an elusive dream and you would have to start somewhere to translate this dream into reality.
renting is paying someone else's mortgage. It's always best to buy if you can. Buy a 2nd hand car and save up a deposit. Too many young people have the "I want" syndrome and therefore never save up. It's also a good way to invest and use the equity from your home to buy another. Rule of thumb is to buy the worst house in the best street - and renovate. It gives one a sense of achievement too.
always buy your own home, renting is throwing money away, the rent money you would pay will help pay off a home, upon selling you get something back possibly a good profit, renting you get nothing back.
For the deposit to buy a home start saving early, it can be achieved .