[juney12]

Reading through posts in another section and I am shocked at the amount of debt people get themselves into buying a house. Most making assumption that there income will go up or that house prices will increase, gambling on this they are sacrificing there quality of life. Willing to go without things including having children or more children, holidays, pursuing their hobbies or other things that they would normally enjoy . Going back to work more then they want to and putting there babies in childcare .. All so that they can buy a home and have a life long debt and stress to a bank for the next 25 years. So do you think it is really worth it?

[sleeplessmamma]

We'd be paying the same if not more in rent, so yup!

[howdo]

Given the uncertainty I see with renting, yes I think it's worth it.

[Sayerley]

Yep like PP we would be paying nearly the same in rent to live in our house.

No annoying landlords or real estate agents to deal with either!

[KT1978]

Yes there is downsides, but the upsides...

I never have to move because my lease ended.
My rent will never go up.
After a few years the payments are less than rent. My mortgage wouldn't buy me a rental unit, but I live in a large home.
I won't be paying anything from age 35 until I die or move...the sacrifices I made will pay off.
I can renovate.

[Frau Farbissina]

I think so - but so long as you don't have to sacrifice so much that life becomes almost unbearable. If you are paying nearly as much in rent anyway, I think you are better off buying. Long term debt does suck, but for many people the equity does grow, as the value of the house increases. I don't know what percentage of homeowners in Australia lose money on a house - none that I know of. Might be the city I live in though, Canberra. Housing prices just go up and up. I'm glad I'm not trying to buy my first home now.

[cinnabubble]

In the almost four years since we got our mortgage, the rent on the property that we were in before buying is about 150% of what it was.

[cinnabubble]

double post

This post has been edited by cinnabubble: 18/08/2012, 10:09 PM

[galba]

Yes - if it means I don't have a property manager looking in the oven and lifting the toilet seat!

[silver-rain]

We'd be paying the same if not more in rent, so yup!

This is us too. We've also just been given an opportunity to maybe start our own business, and the security of the equity in our home is handy when applying for a business loan.