Should I Buy Or Keep Renting?
It’s the age old question asked by many Australians at some point - does it make more sense to rent or to buy?
Well it won’t come as a shock that the answer depends on your circumstances.
For many, the benefits of renting make it the easy choice over buying a home.
These include the flexibility that renting gives you. Many people who plan to travel or work elsewhere in the near future may elect to rent rather than buy so that they can up and leave with minimum hassle.
Renting can also make it possible to live in suburbs where buying property would be far beyond your means - student flats in central suburbs, for example.
On the other hand, buying your own home can make a lot of sense in certain circumstances.
If you are keen to settle down and pay your own mortgage off rather than someone else’s, property ownership could be for you.
Home loans don’t have to be scary at all - in fact they are a great way of funnelling your savings into an appreciating asset.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.