Who here owns?
Out of context: Reply #54
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- airey0
renting is fine as long as you're saving and investing money elsewhere. the benefit of owning is that you have equity in something of value, this allows you something to borrow against for future investments - be they property or shares etc. it also means that you can, over time, move on and rent out the first place, using the equity.
depending on where you live renting can quite often be cheaper in the short term but without any investment elsewhere you'll end up with only your super fund for retirement. obviously that's a long way away but something to think about.
like JG_LB said, do your homework on where you live and make the call yourself. if you do have some funds saved then go see a financial planner. they'll be able to give you some good advice.