Do you RENT or OWN your own home?

We are just getting pre-approval for a mortgage, so we currently rent...$550 per week for 3br 2bth. Pretty standard for this area (sadly!), but on the bright side a mortgage isn't scary for us considering our rent will increase again soon!

We rent a 4 bedroom, 2 bathroom 3 yr old townhouse for $380. It is actually a free standing house, but because it has 2 smaller villas behind us, and a small, grassed courtyard it is a townhouse.
It is a big home but the bedrooms are rather small for our family. We're looking to move in the coming months and will be paying around $450 a week for something we'd be more comfortable in.

Like Liz, I would have to go back to work in order for us to have a mortgage... so we're quite happy as renters for the time being (unless we win lotto of course!)

:bump:

Recently sold our house in Melbourne so that we could move to the country, own our new house outright and not have a mortgage. After DD I found it incredibly difficult to find challenging, professional part-time work - not having a mortgage gives me the flexibility to choose whether to go back to work at all after DD2 or whether to just wait till the kids are in school.

Buying a bigger house in the suburbs we liked in Melbourne would have meant going back to work at least part-time and possibly full-time - something I didn't want to do.

We 'own' our place and pay the minimum at the moment which is around $380 a week. We were paying $500 a week when we were both working, but are on one income now...

We bought the land about 6/7 years ago before prices went haywire, knew a builder and DH and his Dad did the concrete and rendering, so we are very lucky to have what we do.

Oh how lovely it would be to have no mortgage though :)

We have a mortgage and pay the minimum of $560 per week. We built the house a year ago though so it is a brand new 4 bedroom 2 bathroom home and we didnt finish it cheaply. It has very good resale value with double shower, big alfresco, galley kitchen etc. Mortgage is $350k and we are a 40 min train ride/drive from the city but still in a very large suburb.

We were paying around the same amount last year when the interest rates were lower (so about $100 -$150 per week more than we had too) but now that intertest rates have gone up again we are just paying what we need to.

We are currently renting. 3 BR house, about 30km from the Cbd.
We spend approx. $310 p/w. We plan on buying in the same suburb after we pay off our car debt and have our 1st child :)

we are paying just under $1300 p/fn with principal and interest on a loan that started off at $445k. it's insane. but then rent in the area is also insane. inner melbourne sucks lol.

We pay $350 in rent and we are half way between the Gold Coast and Brisbane. It is a 4 bed 1 bath +ensuite. ok sized yard. I'd love to buy, but MR Negativity reckons we'll never be able to!

We're renting at the moment. $330/week for a 4X2. Hoping to build in the future. We've looked in to it a few months ago. Even looked a few blocks and house plans. Just trying to reduce some of our other debts first.