Rent or Buy – How To Decide Which Is Best For You
Generally, rents continue to rise. This is one of the top reasons why renters decide to move.
When you own a home, the bond repayments remain constant for the life of the loan. This consistency creates certainty over a long period of time.
Owning a home gives one the freedom to make changes – you can extend, renovate, revamp or upgrade as you wish.
When you rent, you may need the landlord’s approval to knock a nail in the wall.
On the other hand, renting does provide more flexibility. If you decide to take a job in another city or if you need a change, it’s quicker and easier to do.
If you own a home, you may need to sell your house, which will take more time.
Home ownership does generally provide more privacy and allows you to customize your living space. It may be better for raising a family because you could have more space for your kids and pets to play.
A property increases in value over time, while rents continue to escalate.
