“Rent money is dead money” or so the saying goes. It’s a popular myth perpetuated by plenty of people working in the real estate industry. However as at June 2018 capital city house prices experienced their first annual fall in 6 years, dropping -1.1%. With house prices cooling, renting is starting to look attractive again.
Like any financial decision, there are costs and benefits associated with buying or renting. Here we discuss some of the important pros and cons to consider when deciding whether to rent or buy and look at which one has really worked out better over the long term in Australia.