I’m not going to compare renting or buying with a mortgage in this article. Instead what I say will be sobering…either option is modern day slavery! Whether you choose to rent or buy, my advice can make your life better!
RENTING. If you rent, make sure the rent is tax deductible.
a) It’s not everyone’s cup of tea, but living in a commercial space generally means all the rent is tax deductible.
b) Salary Sacrifice. Have you employer provide staff housing as a perk (make sure your accountants agree the perk is not taxable)
BUYING. Buying a home brings an element of pride for a home owner (I say home owner loosely, as you have in effect become a slave to the bank), and encourages the borrower into a forced savings plan. My tip, save and then buy. Own your home without debt!
ULTIMATELY ITS BETTER TO HAVE NO PERSONAL DEBT!