To all you renters out there who believe that you’ve chosen an easy, stress-free life by avoiding the rigours of home ownership, I ask: are you enjoying making somebody else wealthy while your own bank balance dwindles on account of rising rent prices?
Now, I understand there are a great many renters in the country who would embrace the opportunity to own their own home, but can’t manage the house deposit – I’m not having a go at you. At least you have ambition. Come to think of it, I’m not even having a go at renters who are content to be tenants for the remainder of their lives; oh no, I’m merely pointing out your folly. For a start, most fortnightly rent charges are well above the average mortgage repayment for the same time period. Even if they one day became level, really, how can a logical person think that pouring money into something that provides no tangible return, is financially prudent? ‘But what about rates’, you say, ‘my landlord pays my rates’. That’s true, he pays your rates every three months – every eight weeks – using two weeks worth of your rent. Good logic. ‘But what about when stuff goes wrong at my house’, you say, ‘my landlord fixes it for me, no worries’. So tell me, wise one, how frequently does this occur? Is he spending upwards of $300 a week amending breakages? ‘Nah, but at least I don’t have to worry about it.’ With that, good sir, I cannot argue. That is a valid point. You pay over $30 000 an annum for peace of mind – unless somebody breaks your window and steals everything from you. Then you have nothing.
Finally, for all you unhappy renters: if the notion of accumulating sufficient money for a house deposit comes across as an insurmountable task, just think. All you would have to do is set aside 100 dollars a week. It might take a while and it might hit you as a gargantuan struggle, but then, nothing in this world ever truly satisfies unless it does result from a struggle. 100 dollars a week. Stop buying crap you don’t need and that amount of money will come easily. 100 dollars a week – more if you can afford it. Everybody buys crap they don’t need, so don’t try to argue otherwise. Also, set up direct debit and for God’s sake, don’t be tempted to check how impressive your accruing balance looks or sounds. At 18 months, a new car might suddenly jump in and take priority. Don’t do it. Stay firm. If you delve into those funds before they’ve matured, you won’t look back until they’re gone.