Rent, buy, rent, buy, rent, buy? You’ve been renting all your life but now you see a great offer to finally own your first home. But how do you know if it’s time? If it’s worth it? If it’s really better to settle down and tie yourself up in a mortgage than it is to stay stress-free with rent?
The dilemma of buying vs renting is one that will bother us all at least once in our lives. For young Australians, the idea of ever owning your own house feels impossible; one survey found nearly 90% of young Australians feel that home ownership is just a pipedream. But it’s not as impossible as you might think.
Many young potential homeowners in Australia are pressured into feeling that they need to get their own home. But how do you know when you are ready, and how do you know you’ve saved up enough to make a decision like that? And even if you can afford it financially, is this what you and your family really need right now?
This is one feeling you will never achieve from renting—your home, your castle. You can do whatever you want without worrying about your landlord or lease. Paint a wall another color, work on your landscaping, or renovate a certain room; anything, because it’s all up to you and your family.
You Have a Sense of SecurityWhat feels more secure than knowing that your home is yours for as long as you want it? When you rent your home, you run the risk of getting attached to a home that you don’t own, which means that when your rental agreement is done, your landlord can deny you the right to renew it. But when you own your house, you can really start growing your roots—in your home, your local community, and your neighborhood.
Your Home Is Your Empire
This is one feeling you will never achieve from renting—your home, your castle. You can do whatever you want without worrying about your landlord or lease. Paint a wall another color, work on your landscaping, or renovate a certain room; anything, because it’s all up to you and your family.
You Have a Sense of Security
What feels more secure than knowing that your home is yours for as long as you want it? When you rent your home, you run the risk of getting attached to a home that you don’t own, which means that when your rental agreement is done, your landlord can deny you the right to renew it. But when you own your house, you can really start growing your roots—in your home, your local community, and your neighborhood.
It’s a Long-Term Investment
If you make a good choice with your home, you will have a long-term investment slowly growing faster than the rate of inflation. Who knows—you might be able to sell your home in 20 or 30 years for double the price that you bought it.
Mortgages Are Great Ways To Save
Perhaps the best benefit of sticking to renting is that you aren’t tied down to a single home for the next decade or two. If you end up growing your family—new kids, or your parents or other relatives moving in with you—you can simply wait out your lease and then find another home that better fits the new size of your family. You can stay flexible and make changes without any big struggle involved.
You Can Move Around
Moving around is a huge advantage of renting your own home. Sometimes we don’t want to live in the same neighborhood for the next ten years, or not even the same city or state. By renting, you don’t tie yourself down to one place. You can still move with your career or your heart, keeping your options open always.
You Don’t Have to Worry About Maintenance
When you own a home, every crack, squeak, and issue is yours to deal with. When you rent, none of that is your problem. Repairs and general maintenance are your landlord’s responsibility, while you can just live life without caring about all the little things a homeowner has to think about.
You Save Money Right Now
You Get Tax Benefits
While you might be spending more, you do get tax deductions to help you out. The investment property’s costs such as the mortgage will end up being a tax deduction for you, and if you need even more help, negative gearing is always an option.
Live On Your Own Terms
We might not always be able to live in the best neighborhoods because we can’t afford the homes there, but that doesn’t mean we can’t rent those homes out. By rentvesting, you can have the best of both worlds: building an investment property while still living in a great place through rent.contact us today on (07) 3889 7385. Our team is only a phone call or email away.
Invest In Cheaper Options
Call or email Hoek Modular Homes today! With a wide range of designs and add-ons to suit every need, building your very own home has never been easier.
