BuyGuide.com.au – ReviewsWhy Rent When You Can Own
Imagine for a moment that a stranger offered to loan you a pair of jeans that you really liked. In order to borrow these jeans you had to agree to their terms. First, you would have to agree to borrow those jeans for no less then one year. You would have to continue to borrow them even if you no longer liked them or outgrew them during that year. Secondly, you would have to agree to make a monthly payment to them of $10.00 even though the total value of the jeans was only $100.00. Finally, at the end of your one year you agreement you would have to return the jeans to their owner even though you had made payments that exceeded the total value of the jeans. Would you borrow the jeans? Of Course not, so why are you still renting your home.
When you rent your home you are essentially borrowing the rights to use it from the owner. You must agree to their terms, make your payments, and then surrender the property. When you choose to purchase your own home you will make payments similar to that of your rent and in many cases even less, however in this scenario when you are done making your payments you don’t have to surrender the property you have made an investment in, it is yours to keep. Stop investing in other peoples futures and financial stability and start investing in your own by buying your own home and saying good bye to renting.
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