Renting is significantly cheaper than owning. If the landlord does their part with maintenance, it’s the better option for many people.
Comment on Victoria sees record fall in rental stock as investors leave the state
jonne@infosec.pub 2 months agoYep, and it’s giving first time home buyers a chance to buy one of those ex rentals. I did.
Landlords don’t actually build houses, they buy existing stock and squeeze all the value out of them with minimal maintenance.
DavidDoesLemmy@aussie.zone 2 months ago
jonne@infosec.pub 2 months ago
Not in my case, my mortgage is pretty much the same as what I was paying in rent for a similar house in the same area. And in a few years that mortgage will only become a smaller part of my income instead of growing.
lefaucet@slrpnk.net 2 months ago
This has been my experience as well. I’m saving several thousands of dollars a year after about 5 years. I probably couldn’t afford to rent my own home. If I stick with my mortgage for the full 30 years I can only imagine how ridiculously cheap my “rent” will be… Not to mention that rent money is going into my own equity instead of a landlord’s
I imagine if I were planning on moving within 5 years of purchase renting would be a better deal.
But seriously, in another 5 years I expect I could rent my property and pay my mortgage in full, while taking some profit to help pay another mortgage…
You know - be the thing I despise
DavidDoesLemmy@aussie.zone 2 months ago
Congrats! But the mortgage is just one part of the costs of ownership. Many people spend lots on rates, water, repairs, upgrades, etc.
threeduck@aussie.zone 2 months ago
Renters have to pay for their own water. I’ve lived in rentals for 15 years, and never saw a landlord do “upgrades” on my house. Didn’t stop them from upping the prices every opportunity they could. I’ll give you rates and repairs, although if landlords hadn’t scalped all the properties I’m sure people could afford to shop around to buy a better built property.
Taleya@aussie.zone 2 months ago
thing is as evidence is very sharply illustrating, they’re not.
DavidDoesLemmy@aussie.zone 2 months ago
Some are, some aren’t. I only have anecdotal data so I’m not sure of how prevalent this is at a national level.
threeduck@aussie.zone 2 months ago
But who’s fault is that? That’s right, the investors/landlords who scalped all the houses, making supply scarce and causing prices to increase.
Owning more than two (and I’d argue more than one) properties should be illegal.
Taleya@aussie.zone 2 months ago
“Victorian owner-occupiers on rise as
parasitesinvestors are no longer coddles”