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Renting Vs Buying
While most Australians aspire to owning a home, it is not all that easy when the market is booming and the prices keep on going through the roof. So which is the best thing to do, rent or buy? It may depend on your goals and your lifestyle.
When you are renting, it seems that you are paying out dead money every month that is, the money you spend on rent doesn't bring in any return. But it gives you a place to live, and you can move without the hassles of having to sell, refinance a loan and look for another house you can afford the repayments on. If the water heater leaks all over the carpet, you don't have to pay for a new one or new carpet; the owner does.
But you do
have to make sure you do not cause damage or you might get evicted. And the rent seems to rise just when you thought you were saving some money.
If you buy, you are stuck with high repayments for up to 30 years, but each year that goes past gives your greater equity and in the end you'll have something of real value. You cannot be evicted and there are no inspections. On the other hand, if something goes wrong, you are the one who must pay to have it fixed.
Look for Quick Direct information online and compare home loan details at http://www.quickdirect.com.au/
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