Why is renting better than buying?

Simply put, renting is not better than buying, and you should take that into account when looking for your first property.

If you own a property, your wealth will rise along with the value of the property and you’ll make more profit from selling it. This is not the case with rented properties; if your rent increases, you just pay more rent.

Buying a property may cost more upfront because of the need for a deposit (although you can exclude the need for one by obtaining a 100% home loan), but rent will cost you more in the long term.

Furthermore, current interest rates are the lowest in decades, making it a good time to buy.