Renting is fantastic – for your landlord.
The money you spend on rent every week could instead be used to pay off YOUR house and build YOUR equity. With Interest Rates, Land and Building prices at the lowest in years, there has never been a better time than RIGHT NOW to build!
Imagine a living space that is truly yours, free to decorate and fit-out as you please.
No sudden landlord visits. No regular inspections. No worrying about losing your bond.
When you own your home, your home is your business. No-one else’s.
2. Income generation
You are free to rent out your spare rooms and recoup a good portion of your monthly repayments. A four-bedroom home with 3 rooms rented out at $160 per is over $2000 per month, or $24,000 per year in extra revenue. Rent out your rooms or keep that extra living space to yourself!
3. Building equity
Rather than spending thousands a month building your landlords property portfolio, get started in the market yourself! Every dollar that goes into your home is a step closer to financial freedom. Paying rent for 5 years at $500 per week equates to $130,000! Your hard-earned money has meant your landlord is $130,000 closer to their goals, at your expense.
4. Avoid rising rent prices
Although you may currently get a great deal renting, who’s to say that will be the case years or even months from now? Perth’s rising occupancy rates means less homes are available to rent, thus driving up competition and therefore rent costs. Your landlord is free to change rent prices as they please, don’t get caught out!
5. Assets make everything easier
Any equity on your home can be used to facilitate other financial investments. Wanting to start a business? Having a home means the banks are likely to give you a better rate on loans. You can also use home equity as a deposit against an investment loan. With enough equity on your home, you may be able to borrow up to 80% of the value of a new investment – without using your own cash.