Finance & Fury Podcast

Welcome to Finance and Fury, the Say What Wednesday. This week the Question is from Emma. “Hi Louis – Would like to get your opinion on if it is a good time to buy a property to live in or if it is better to continue renting? We have saved up for enough of a deposit to buy a property for around $600,000 and have been planning to buy for a while. But do you think that property prices are set to decline? Love to hear your thoughts.” Great question – one I have been battling with personally for the past 18 months or so – in this episode – we will be looking at renting versus buying – Pros and cons to each – to what degree Depends on a number of factors – Costs of owning the property – versus renting Ongoing costs – BC, rates, etc. Mortgage repayments – Size of the loan and Interest rates Price of property – obviously the higher the price the more it will cost in loan repayment – as well as more deposit that needs to be put down In looking at these factors – also need to consider the Opportunity cost – what i