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3 Reasons Why Buying a Property is Better than Renting

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HouseEven though buying a house in Australia is hard, most people still want to own a property and will find ways to do so. It’s only normal to want that, with the many benefits home ownership offers.

Very few are courageous enough to actually take the plunge into real estate ownership, however. To make up your mind, think about some of the reasons why any hardworking Aussie should get their own property:

1. House and Land Packages are Affordable

There are a number of affordable payment options these days. There’s the “rent to buy” scheme and the preferred choice of younger home buyers—parental assistance. Some companies are even willing to personalise a payment scheme.

Research all possible options right after you compute for your budget. Limit the list of preferred properties to include only those you can afford.

2. Real Estate Properties Can Be an Investment

Both buying and renting provides shelter—except when your lease contract is over, you need to find a new residence. A property you own can provide shelter until you choose to sell it.

Reselling the property can still earn you a good amount, especially with proper maintenance. Another option is to rent it out.

With reasonably priced house and land packages from and other land development companies, get high earnings from rents. Even with international real estate slumps, the market will always recover and your property may be worth double in a few years.

3. Owning a Property is Recommended for Families

In Melbourne, 32.8% of a person’s expenses goes to the monthly rent. That is a huge portion, especially if you have a big family to think about. Imagine all that money and think about the average selling price of houses.

Rentals may be perfect for unmarried individuals, but a growing family needs a house that can allow for renovations and expansions as well. Besides, continuous monthly payments without eventually owning the property is a loss in the long run.

Buying a house is a good investment if you maintain it properly. Keep in mind that this will be your family’s home, so make sure to consult with property experts before buying.

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