Comparison of renting versus buying

Owning a property - key advantages

Capital growth - When you buy a property, at the end of the mortgage term you will own it outright. The opportunity to achieve a capital gain in this way along with the great tax advantages, is for many home owners, the single most important factor behind their decision to buy their own property.

Assessing cost - In the long term buying a property will probably cost less than renting one. However, another factor to take into account is the costs associated with buying and reselling a property.

Renting key advantages

Flexibility- Most tenancies are six to twelve months in duration. At the end of this period you can walk away without any further cost or obligation.

Expenses - Repairs and maintenance are usually the responsibility of the landlord.

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