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In this market should I rent or buy?
Monday, June 01, 2009
There have been numerous stories lately about whether people should rent or buy in this current market and there always seems to be an 'expert' that can 'prove' you are better off renting.
They usually tell us about the better lifestyle and consumer goods we can accrue with our extra disposable income. This is very appealing to the 'now' generation and the marketing that surrounds us every day.
These arguments fail to take into consideration several factors. Most consumer goods and services (cars, overseas trips etc) depreciate in value or leave the consumer with nothing to show for them at the end of the day.
With rents going up faster than the CPI, the same proportion of income will buy proportionately less rental accommodation over a ten year period. The home owner on the other hand ends up with a property that may have doubled in value!
Is the debate then really one of lifestyle and planning? Do you want the flexibility to be able to move houses freely or with interest rates at historical lows, is it the right time to plan for the future?
To discuss all of your real estate needs contact us today.
Holiday properties in Port Stephens
Port Stephens is great to visit anytime of the year but with whale watching season well underway, it is a great time to get away for a relatively inexpensive holiday.
Whether it is for a week or a long weekend, Winning Holidays has self contained accommodation to suit any budget.
Why not book your next break at Port Stephens on line at www.winningholidays.com.au
If you own property at Port Stephens that is currently used for holiday accommodation make sure you take advantage of our market leading occupancy levels. If you would like to have your property assessed to see if it is suitable for a holiday letting, contact Angela King on 4984 0100 or e-mail angela@winningholidays.com.au.