Australians are tossing between do we buy a Home or is it cheaper to rent, detailed analysis of this Housing problem was analyzed by Julius Mather Principal North city Accountants www.northcityaccountants.com.au.

Dad & mum with 2 kids was taken in to the test, family income $100,000 and we found the below statistics

Tax Payment 25%

Mortgage Payment 39% (against Rent payment 29%)

Food 21%

Cars-2 cars 8%

Others 12%

When you own a home through Bank Borrowing over 30 years your total expenses will be 102% of the gross income, which means you spend yearly $1900 , this is balance by the credit card debt. Each year your credit card Debt is increased by $1900.

If you rent the House the total expenses will be 95% and you will have yearly surplus $6600.??????

Is it visor to Rent, Many Mom & Dad are making this mistake.

Julius Mather Principal of Northcity Accountants says after 25 years in this industry , how to save $600,000 in 10 years , even if you buy a home on bank finance.

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