Post a Comment On: Brisbane Apartment

The AFR recently had an article on whether you are better off renting or buying property.  See article here.

For many people, I believe that renting is better than buying.  These are my reasons:
known fixed cost per week for renters no cost for repairs, rates, property insurance or body corporate fees for rentals flexibility and mobility for renters - too many times have I seen people stuck in a property type or location that they don't want any more.  Ownership also makes it harder to move to where better jobs are located. purchasing property is for the long term (that is, seven years or more), and many people should not be committing to a property type or location for that period of time entry and exit costs are high for purchasing (i.e., stamp duty and agent's commission) you get a better property if you rent compared with buying, all outgoings and costs being equal (another way to say this is that most landlords are making a loss, or negatively gearing, and so you are better off than your landlord) currently many good choices for renters, and competition by landlords is high owners spend more time and effort wasting time and money on repairs, improvements, renovations and gardens, which are rarely recovered on sale; renters have more leisure time