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PT_Bear said:Renting is much cheaper than purchasing your own home. If the rental return on an appartment is 2-3%, I'd love to know how you can own it for less!
You also don't have to spend money on rates, repairs, etc.
The are several upsides to owning however.
1. The emotional factor. The house is yours, the payments contribute to your equity, not someone elses.
2. Rents go up over time due to demand and inflation. Unless you're continuously refinancing and drawing down equity, your repayments won't change beyond the effect of interest rates.
3. You can do almost whatever you like with your own home.
We recently bought our own home (after renting and investing for many years). We're looking forward to having fewer neigbours, more space, a workshop ( ), and we can even get a dog!
LisaS said:My question is simple. Is there anyone out there who rents and invests as opposed to having a PPOR and investing?
What would you say are the pro's and/or cons of one vs the other?
Lisa
Zoran said:Just curious, is it possible to rent your own investment property?
Thommo said:If residential prop is so highly priced that even property owners can't afford to own their own home, doesn't this ring any alarm bells on sustainability of current prices?
Thommo
I didn't think that people are saying they can't...certain people are simply choosing not to.Thommo said:If residential prop is so highly priced that even property owners can't afford to own their own home, doesn't this ring any alarm bells on sustainability of current prices?