The Pros and Cons of Renting. What do you think?

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I still live at home and am dying to move out with my partner but know I need to be patient as the only way to achieve it is trying to stay at home as long as possible in order to save.

I only want to rent for a year or two because I see it as a waste of money and want to get enough for a deposit on a small apartment…then in some time a house… 😀

My partner and I have been renting for 9 years and between paying rent and debt (caused by moving out at 18) there is not much left to save for a deposit.
Paying the morgage repayments is not an issue just the deposit. Our rent is $400 PW.
It’s hard but I toook a second job working everynight after my full time job to get extra to pay off the debit and start saving. We are almost debt free apart from cars but planning on taking a holiday before we start saving.
I think if we don’t do it now, we will never get the chance because everything is going up except our wages.

You poor thing Trudz, you work really hard. It is really difficult to save for a deposit when you pay $400 a week in rent and i find especially where i live that anything under $340 is not worth looking at especially in certain areas. I was renting before house for a few years and i was paying $350 per week and i couldnt save for a deposit alone, it wasnt until hubby and i got together, we rented for two years, saved our heads off and put together a deposit, it was difficult as we never hardly went out hahahaha Goodluck with it all Trudz and make sure you rest up and take some ME time in between.x

My partner and I have been renting for 9 years and between paying rent and debt (caused by moving out at 18) there is not much left to save for a deposit.
Paying the morgage repayments is not an issue just the deposit. Our rent is $400 PW.
It’s hard but I toook a second job working everynight after my full time job to get extra to pay off the debit and start saving. We are almost debt free apart from cars but planning on taking a holiday before we start saving.
I think if we don’t do it now, we will never get the chance because everything is going up except our wages.

Rent is not much cheaper than mortgage repayments really…loving the idea of not paying a mortgage seems a bit silly to me. Renting is ok if you’re single, but when you’re married, iwth kids, wouldn’t you want something a bit more permanent where you can call ‘family home’?

Yikes. I like to look at the bigger, longer term picture. It’s definitely more cost effective and you are likely to have a higer quality of life owning your own home versus renting. Even if you buy instead of build, you could profit when/if you sell.

Yeah that is so true, i feel sorry for her as they cant put together a deposit as rent is $350 per week and her hubby is only one working. But out convo became alittle heated lol i was renting for three years before we bought our own and yeah it could be hard but her hubbys excuse is that if they buy a home then all the little luxiouries will be gone.

Lol at loving the idea of not paying a mortgage but paying off someone else’s. I see renting only as a short term option. We will be building our own house as soon as xyz permits. Especially when we have a family, I want to be settled in our own home. I moved a lot when I was a child and I don’t want my kids to go through that.