Deciding on whether to rent or buy a house isn't simple. Get help to make the right decision
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.
As well as low interest rates, there are a mass of first home buyer grants and schemes to take advantage of in today’s lending environment. These all come with their own terms and conditions, but most are designed to help first time buyers get a foot on the property ladder.
Porter Davis have partnered with Mortgage Advice Bureau to help you get answers to some of your most commonly asked questions in this area including:
What government grants and schemes am I eligible for?
Can I use certain schemes together to save even more money?
And, how much money can I actually save?
All you need to do is schedule a first home buying coaching session with Mortgage Advice Bureau, which is completely obligation free! To do this, simply register your details in the form at the bottom of the page.
Our finance partners at Mortgage Advice Bureau have developed a super handy ‘Rent vs Buy Calculator’ so that you can further investigate what’s a good fit for your personal situation. This calculator helps explore the potential benefit of either renting or buying a property over time, and decides whether it’s better to buy or rent a home based on inputs you enter and assumptions.
Check out our MAB Rent vs Buy Calculator below.
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.