John Symond recently spoke to the hosts of radio show Mamamia Today to answer some good questions they had about property.
Is it better to buy a home or to rent a home?
Buying versus renting: It’s a question we are hearing a lot about at the moment. Is it better to buy a home or to rent a home?
There are a range of suburbs around Australia where mortgage repayments are now less than the amount it costs to rent. We are talking properties that are under $500K in some suburbs.
The reason for this is that interest rates are at an all-time low but rents continue to stay high and part reason for this is we have a housing shortage.
So if you happen to be renting, its worth thinking about how much your spending and whether this money could be better put towards a mortgage.
In addition to this, first home buyers may still be eligible for grants towards buying a new home, particularly a home to be constructed and this further supports the case to buy rather than to rent.
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