There’s no shortage of opinions on whether renting is “dead money” or buying property is the holy grail of adulting in Australia. Everyone’s got a story, a warning, or a mate who “made a killing” by buying at just the right time (usually leaving out the messy bits). But when it comes to your situation, your money, and your future, the truth isn’t as clear as your uncle’s advice after his third beer.

After 15 years as a broker and commercial banker — and as someone who’s been both a renter and a homeowner — here’s my real-world take: there’s no one-size-fits-all answer. So let’s skip the barbecue banter and break it down properly

Renting: Flexibility, Freedom, and Fewer Financial Landmines

Renting cops a bad rap, but it’s smarter than people give it credit for — especially if you play it strategically.

Here’s where renting wins:

• Flexibility. You can chase jobs, move to better suburbs, or bolt when your neighbour's "temporary" drum kit becomes a lifestyle choice.

• Fewer hidden costs. No council rates. No cracked roof panic attacks. No maintenance bills that magically appear at the worst possible time.

• Financial breathing room. In many areas, rent still undercuts mortgage repayments by a solid margin. This gap lets you save aggressively for a proper entry into the market — ideally in a way that fits into a wealth strategy rather than a panic buy.

Renting is smart when:

• You're still stacking your house deposit or repairing your credit.
• You’re mobile — career, lifestyle, relationships still in motion.
• You want to invest elsewhere (shares, business, etc.) rather than tying up capital.
  
  

Renting isn’t failure. It’s playing the long game if you’re using it strategically.

Buying: Security, Stability, and the Power of Ownership

Owning a property isn't just about painting walls your favourite shade of regret-free teal. It’s about asset-building and wealth leverage — if you structure it right.

Here’s where buying wins:

• Equity Growth. As you pay down your loan (and if your property grows in value), you build a launchpad for future investments.
• Stability. No rent increases to worry about. Interest rate increases are usually far more gentle than the step change that can come from rent increases.
• Independence. Who want to be told that you’re not properly cleaning to top of the light switch panel with you’re a 30s+ grown ass adult?
• Financial Tools. Access to offsets, redraws, equity release for future investments (when used cleverly as part of a broader strategy).
  
  

If you’re eligible for grants like the First Home Owner Grant, stamp duty concessions, or First Home Guarantee, the right purchase could put you ahead faster. Just know the fine print: continuous occupancy periods, income caps, property caps, etc. — there are strings attached.

Buying is smart when:

• You’ve got a solid deposit (20%+ ideally) and a stable income.
• You plan to stay put for 5+ years (avoid transaction cost bleeding).
• You've checked your strategy against both your emotions and your financial plan.
• You’ve got buffers — not just for the mortgage, but for rates, maintenance, insurance, unexpected repairs.
  
  

Buying a house is not the dream. Buying financial freedom is the dream. Ownership can get you there, but only if you avoid becoming "asset rich, cash poor."

The Brutal Reality Check: Money Talks

It’s time for the cold shower.

Before you decide:

• Scrutinise your income, expenses, debts, and savings.
• Factor in interest rate buffers — assume it will get harder before it gets easier.
• Be honest about future life events — kids, career shifts, moving states — not just today’s situation.
  
  

And don't fall for the trap of buying "because everyone else is." Keeping up with the Joneses is a fast-track to keeping up with your mortgage stress hotline.

Ask yourself:

• Can you survive a 2–3% rise in interest rates without selling your kidneys?
• Will you still love this area/job/lifestyle in 5–10 years?
• Are you ready to be your own landlord? (Spoiler: It’s less glamorous than Instagram suggests.)
  
  

Renting Wins When:

• You need career or life flexibility.
• You're still building your financial war chest.
• The buying opportunity right now doesn’t stack up against your goals.
• You're working toward a bigger, smarter play (e.g., building a business, investing elsewhere).
  
  

Buying Wins When:

• You’re ready to stay put and invest in equity, not just lifestyle.
• You’ve got buffers and future-proofed your income.
• You can leverage ownership into broader wealth strategies — e.g., equity release for future investments.
  
  

Renting vs Buying: Not a Battle. A Strategy.

There’s no shame in renting. There’s no gold medal for buying either.

The real prize? Control over your financial trajectory.

Sometimes the best move is renting smart and investing elsewhere. Sometimes it's buying at the right time with the right structure. It’s not about what your mate at the pub is doing. It’s about what aligns with your goals.

Need help sorting real strategy from marketing spin? Book a call with Mountway.

No pressure. No jargon. Just straight-up advice to help you make the smartest move — for you.