Buying a home cheaper than renting?

Buying your very first home is a thrilling experience!

It’s exciting anytime you move somewhere new but especially when you know its all yours. 

Particularly if you have been renting for a long time. 

You finally have a space to call your own and you can do what you like to it… add storage, update the window furnishings or hammer a picture hook into the wall.

Now is an ideal time for people to consider property ownership as it can be a cheaper option than renting.

Especially if you are planning for the future and a family.

Realestate.com.au says that for more than 70% of Aussie homeowners, according to ABS statistics, choosing between renting or buying a home is a ‘no brainer’.

Home ownership is a rite of passage. Ask an accountant or financial planner whether it’s worth buying a home and the answer is invariably ‘yes’.

Why?

An accountant will advise that a home is the only tax-free asset you’ll own. A financial planner might mention something about building a portfolio.

Realestate.com.au notes that buying a home forces you to put a portion of earnings towards an asset. Forced savings and a way to build your wealth that eliminates procrastination.

Let’s face it. Investing for the future is the first thing most of us put off. It’s almost last on the list of priorities.

Just think about it.  Contact us if you’d like help understanding your home buying options.

Posted in: First home buyers

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