It’s one of those age-old questions like Shares vs Property; Cats vs Dogs and Kingston vs Monte Carlo bikkies, and just like these conundrums, it is unlikely to be solved anytime soon. But in order to work out which option is best for you, it helps to know what you are comparing – both emotionally and financially.
Owning a home has its benefits and drawbacks.
- No more quarterly rental intrusions (inspections)
- If the kids decide to redecorate for you it’s you they answer to …. not the landlord.
- No more cleaning up and clearing out as the landlord has viewings, trying to sell.
- No excuses not to stick the kids ‘art work’ on the walls anymore.
- You can get a dog, cat or even a Madagascar Hissing Cockroach.
- You are paying off your own loan not someone else’s.
- You are now responsible for rates, water and other bills.
- You’ll actually need to pay attention to the interest rates now.
Let’s talk money.
Which is actually cheaper – buying or renting?
There are a lot of considerations that go into answering this very question and we have laid it all out for you in plain old English in a brilliant ‘Rent or Buy’ guide, which will help you make an informed decision.
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