Renting verses Buying

With the market rising, the ongoing rental costs and constant competition this topic will forever lurk in discussion and debate among people. The idea of renting allows you to live in a home where you are only responsible for wear and tear and not any major repairs.  There is however a few downsides, one being that it is not “your” home, which means no possibility to alter or make major construction, or changes that you desire. Also we can never get rid of that little voice in the back of our heads that is telling us “we are paying for someone else’s mortgage!” However, before you jump to the conclusion that the grass is awlays greener on the landlord’s side of the fence, all aspects need to be considered fairly. The global mail has a rent versus buy calculator (link attached below), which enables you to enter all your details in terms of investment cost and mortgage rates as well as rental details. This also is a great little tool if you are looking to invest. The investment option may be suitable to you as well but all comes down to having a balance and organizing the best method for you. To find out your potential rent income, please contact one of our property management professionals to come and complete a free appraisal.

 
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