Is it better to rent or buy when looking for a change?

I'm moving out of home and we are weighing up if it is worth taking out a mortgage which we can afford (just!) or renting and just waiting for further savings to buy.
Any thoughts would be great!
Question asked via Homely.com.au The opinions expressed here are those of the individual and not those of Ray White.
2 people following
this question
Report

1 Answer

Buying is better for the long term as you can make a capital gain by staying in the property then eventually selling. but for the short term renting is cheaper easier buy you can be refused a lease at the end of your lease agreement and be forced to move.

Calculate your pros and cons here http://money.msn.com/home-loans/rent-or-buy-calculator.aspx
1 vote
Report
The opinions expressed here are those of the individual and not those of Ray White.

Your answer