Renting vs Buying

Wouldn’t it be nice if your money went towards paying off your own mortgage, not your landlord’s? With the record low interest rates in today’s lending environment, this could be more attainable than you think! The payments you make every month give you something tangible in return, compared to the ‘empty’ money you would be spending on rent. 

Another benefit to home ownership is that it can improve your credit score and provide added security, so long as you keep up on your mortgage repayments. More than that, it’s exciting to know that you’re on the way to owning the asset that you’ve invested in. Once you own 100% of the house, you can live free of regular monthly payments with no more rent or mortgage instalments to pay. Which in turn frees up significant capital for you to invest in other ways.

This information is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, we recommend that you consider whether it is appropriate for you. We recommend that you seek your own independent legal, financial, and taxation advice before acting on any information in this article. Mortgage Advice Bureau is a full member of the Mortgage Finance Association of Australia. MAB Broker Services Pty Ltd (ACN 616 236 527) trading as Mortgage Advice Bureau is Authorised Credit Representative Number 493979 of Mortgageport Management Pty Ltd 082 753 679, Australian Credit Licence Number 386360.