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The benefits of renting

By Samantha Krimotat

Historically people built their own homes or rented from others. These days however, for most Australians, owning their own home is a lifelong goal that they feel they must achieve.

“People should consider the alternative of renting, which has its own set of benefits – especially in the Eastern Suburbs where property is very expensive and buying is out of reach for many.” said Michael Krimotat Director of Ray White Double Bay.

Here are a few of the benefits:

– No maintenance costs or repairs.

– No real estate tax.

– Lower Insurance and utility costs.

– No big deposit, which can be invested in other resources.

Michael also emphasised that renting or buying is a personal choice. He stated “At the end of the day being in a position to buy is better in the long run, but renting certainly has its benefits.”

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