Often we get asked 'Why should I buy?', and fair enough.. chances are you will buy something that will cost you as much per month for the mortgage repayment as it would to rent. So, here's some more of our thoughts;
Problem #2: I'd rather rent and wait to buy what I really want.
This sounds all well and good, and it means you get to live where you want, enjoy the lifestyle your dream of and so on. But in the broad scheme of things, is this really what you want?
As you spend this time of life, 'saving' to buy the dream apartment or house in the dream location, what is actually happening to you money? Are you really saving? While the bank balance may be going up, remember that you're still paying rent to live. And that rent, is filling someone else's pocket or paying off someone else's mortgage.
So, is it better to rent or buy? In the long run for majority of situations yes it can be better to buy then rent as you are putting your weekly repayments into your own mortgage instead of someone else’s.
Find something in your budget, do some research and contact us to ensure you have the best home loan option before buying!
By living in your house this allows your mortgage payments to be your rent! Then if you want to move, do so, pay rent, but have tenants pay off your mortgage while you pay off someone else's with your rent.
This is often a good solution to keep the world going round and your money safe. And if you choose wisely, while you're saving for the dream home, the place you own may just double or triple in value while you wait.
