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Why renting is better than buying?

Simply put, renting is not better than buying, for several reasons.

One is that a home is an appreciating asset. If it rises in value, your wealth and potential profits increase. On the other hand, if a rented property rises in value, you pay more rent.

You may have to pay the cost of maintenance yourself if you own a home, but it’s better to be able to make decisions regarding your home without having to consult a landlord. You can, for example, make renovations that will improve the home’s value.

If you rent, you’re paying off someone else’s home loan, whereas if you buy, you’re paying off your own.

So while renting may be easier in the short-term, buying is the better option.

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Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.

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Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.

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Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.

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