{"id":8564,"date":"2025-04-01T00:00:00","date_gmt":"2025-03-31T13:00:00","guid":{"rendered":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/is-it-fair-to-compare-renting-to-buying\/"},"modified":"2025-04-01T00:00:00","modified_gmt":"2025-03-31T13:00:00","slug":"is-it-fair-to-compare-renting-to-buying","status":"publish","type":"post","link":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/is-it-fair-to-compare-renting-to-buying\/","title":{"rendered":"Is it fair to compare renting to buying?"},"content":{"rendered":"<p>Mark Polatkesen at Mortgage Domayne doesn\u2019t think it\u2019s fair to compare renting a home to buying one.<\/p>\n<p><\/p>\n<p>On one hand, renting a property to live in can be less expensive than buying a home and paying a mortgage.<\/p>\n<p><\/p>\n<p><iframe loading=\"lazy\" allow=\"autoplay; fullscreen\" allowfullscreen=\"\" frameborder=\"0\" height=\"420\" src=\"https:\/\/player.vimeo.com\/video\/1075162076\" width=\"100%\"><\/iframe><\/p>\n<p><\/p>\n<p>Mark says it\u2019s a mismatch because paying a mortgage means you will eventually own the home if you see it through.<\/p>\n<p><\/p>\n<p>\u201cPaying principal and interest (for the mortgage) means every month you&#8217;re paying off your loan balance. That will result in increased equity.\u201d<\/p>\n<p><\/p>\n<p>Equity is the difference between the value of the property and the amount owed to the bank.<\/p>\n<p><\/p>\n<p>While renting you don\u2019t accumulate any equity in the property, the rent is accumulated by the landlord.<\/p>\n<p><\/p>\n<p>Long term, a mortgage or home loan might be paid off and the homeowner would not need to make any repayments to live in the home, though other fees, taxes or rates may apply.<\/p>\n<p><\/p>\n<p>Continuing to rent a home means continuing to pay rent into the future. Depending on personal circumstances, the property manager or landlord, the amount paid in rent could increase over time.<\/p>\n<p><\/p>\n<p><strong>Meet your neighbours: \u2018Home Sweet Home\u2019 couldn\u2019t be easier<\/strong><\/p>\n<p><\/p>\n<p>Since moving into her brand new Townhome in the Lollipop Hill neighbourhood of Manor Lakes, Ramanpreet Kaur has been revelling in that super sweet feeling of owning your own home.<\/p>\n<p><\/p>\n<p>\u201cWhen you are renting, you are filling someone else\u2019s pocket,\u201d she explains. \u201cWhen you own your home, your money goes on your mortgage and you&#8217;re getting your own space. This is real value for hard-earned money to me!\u201d<\/p>\n<p><\/p>\n<p>Having watched on the sidelines as her sister purchased a house and land package in Manor Lakes and worked through the process of building, Ms Kaur decided purchasing a townhome with everything done for her was a better option.<\/p>\n<p><\/p>\n<p><a href=\"https:\/\/manorlakes.com.au\/blog\/%E2%80%98home-sweet-home%E2%80%99-couldn%E2%80%99t-be-easier\">Read Ramanpreet\u2019s story here<\/a><\/p>\n<p><\/p>\n<p><strong>Contact us<\/strong><\/p>\n<p><\/p>\n<p>Speak to a Sales Consultant at Manor Lakes to learn more.<\/p>\n<p><\/p>\n<p><a href=\"https:\/\/manorlakes.com.au\/contact\">Contact<\/a><\/p>\n<p><\/p>\n<p><strong>Help with Buying<\/strong><\/p>\n<p><\/p>\n<p>There\u2019s a range of home options available at Manor Lakes.<\/p>\n<p><\/p>\n<p>Choose from residential land lots, house and land packages, town homes, turnkey villas and more.<\/p>\n<p><\/p>\n<p><a href=\"https:\/\/manorlakes.com.au\/help-buying\">Learn more<\/a><\/p>\n<p><\/p>\n<p><strong>About Mark Polatkesen<\/strong><\/p>\n<p><\/p>\n<p>Mark Polatkesen is a senior mortgage broker and director at Mortgage Domayne.\u00a0<\/p>\n<p><\/p>\n<p><a href=\"https:\/\/mortgagedomayne.com.au\/\">mortgagedomayne.com.au<\/a><\/p>\n<p><\/p>\n<p>\u00a0<\/p>\n<p><\/p>\n<p style=\"margin-left:36.0pt;\"><em>Mortgage Domayne offers mortgage brokerage services under Australian Credit Licence 389087.\u00a0 You can find out more about the credit services that Mortgage Domayne provides and contact Mortgage Domayne at mortgagedomayne.com.au.\u00a0 Dennis Family Corporation and its associates have not and do not receive any benefits, such as commissions, from Mortgage Domayne or any other party in respect of any information provided about or referrals made to Mortgage Domayne.\u00a0 Neither Dennis Family Corporation nor its associates provide credit assistance or make any suggestion that you apply for or remain in any particular loan with any lender.\u00a0 The information on this page does not take into account your personal circumstances or objectives and has not been provided for the purpose of securing any loan with any lender for you.<\/em><\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mark Polatkesen at Mortgage Domayne doesn\u2019t think it\u2019s fair to compare renting a home to buying one. On one hand,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":6261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-8564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters"],"acf":[],"_links":{"self":[{"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/posts\/8564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/comments?post=8564"}],"version-history":[{"count":0,"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/posts\/8564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/media\/6261"}],"wp:attachment":[{"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/media?parent=8564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/categories?post=8564"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/dev.build.optimodesign.com.au\/manorlakes\/wp-json\/wp\/v2\/tags?post=8564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}