Tuesday, 12 July 2016
Should I Buy a Home or Rent One?
The current condition of Australian real estate market is a matter of great pressure throughout the country. The ones that are struck worse by the situation are the first time buyers, especially when now the prices at Sydney and Melbourne practically out of their reach. So, the question comes, is it preferable to buy a home for yourself or rent one? The situation gets even more clearly worse when to try to understand where the most of the first time buyers come from. Most of the first-time buyers are the ones who’ve just entered their earning phase. And as the tradition goes, they want a home of their own. Now, as per the market suggests, buying a property is easy but affording living it is what makes it difficult. A better option seems to be renting home and investing in a property to earn profits. Another reason that supports renting is the location. If suburbs are considered, renting home comes easier than owning it. Especially when the location is your priority, it is advisable to rent a home in a locality of your likeness than buying one in a less desirable one. Even from mortgage point of view, renting comes cheaper. On the top of all this, buying a property comes with a lot of risks with it which may escalate for early buyers. Buying the house doesn’t necessarily mean you can afford to live in it. Without proper homework, it may end up in a loss. So that was our take on advantages of Renting over owning the property. For more issues related to Real Estate, keep visiting Steve Macaw’s blog.