Renting
Market Conditions
Higher property values = higher rental
Budget
Rental costs increase annually
Flexibility
No adding a personal touch to the home to suit your specific needs
Investment
Any additions / changes to the property will be lost once you move. Changes could even have financial implications if the landlord wants them undone.
Security
No security beyond the term of your rental contract. You could end up moving from unit to unit (additional costs & inconvenience)
Long Term
Once you move, you have nothing to show for the time you rented.
Financial Gain
Renting will be cheaper than bond repayments
Net-Worth
Renting is similar to a holiday, you are only left with the memories
Buying
Market Conditions
Higher property prices = investment growth = more profit
Budget
Bonds remain the same (except for inflation). Estimated that after 5 years, bond repayment will be less than rental rates.
Flexibility
You can change your home to fit in with your living standards & requirements (within legal limits)
Investment
Additions / changes will increase value of investment
Security
The property is yours and you can form a solid foundation for your future & family. You can live there as long as you want to.
Long Term
If you decide to move, you can either sell your home for a profit, or you can rent it out and start building your investment portfolio.
Financial Gain
Although bond repayment is higher than rental, you are essentially also building your ‘saving’ or retirement fund in the form of assets.
Net-Worth
Owning a home adds value to your credit profile and you start to build a legacy & increase your net-worth.