The question on whether to Rent or Buy a property is one that people often ponder. The answer is very dependent on your financial situation, lifestyle and attitude.
Renting is a particularly good option if you enjoy the freedom to move around or if your personal circumstances are likely to change. It easily allows you to give notice and move on with little delay and the financial and legal considerations of having to put your home on the market and sell it.
Renting also removes many of the responsibilities for maintenance to the property as this is mostly required to be carried out by the landlord, saving you time and money.
Perhaps the largest reason why renting would better suit you than home ownership is that you are not ready for the ongoing financial commitment of repaying a home loan. This can take commitment and depending on your personal circumstances may mean you need to adapt your lifestyle. You may have to postpone an overseas trip or another big purchase.
Home ownership is a big decision which is right for some people and not right for others. You should assess your priorities and decide from there whether renting or buying is right for you.
When renting bond and additional charges may apply. Please ensure that you confirm all costs with your Property Manager.
REINZ Accredited Residential Property Management Member.