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Rick Otton Examines the Buying Versus Renting Debate(July 29, 2014)
(PRWEB) July 29, 2014
Rick Otton, property investing authority and a respected voice in Australian real estate, has turned his attention to examining the arguments in the buying versus renting debate in light of current property market conditions and Reserve Bank of Australia (RBA) commentary.
A common feature of Australian property investment environment is the debate held in real estate offices, coffee shops, and lounge rooms about the merits of property ownership compared to renting, said Mr. Otton.
This is especially true when a respected authority such as the RBA comes out and says that renting may make more sense in the current market. The leading authority on interest rates and monetary policy in Australia published a report this month that cautioned against the belief that property prices always go up, said Mr. Otton.
They also argued that over a very long term time frame, once you take into account all costs like stamp duty, maintenance and mortgage payments, the real price growth of property is between 1.7% and 2.4%.
In comparison, renting means no mortgage payments and associated running costs of a home. It also means that there is less stress, as a mortgage payment is the longest term contract that many people ever enter into, and certainly has the highest dollar value attached, said Mr. Otton. And of course, there is the associated flexibility and lifestyle benefits that come from not having to be locked in long term to a single home, he went on to say.
Property ownership can be very rewarding, but renting suits many people as well. In this context, having adaptable, creative real estate investing strategies is important so that you can harness trends for your own benefit as an investor, said Mr. Otton. Concepts like this, as well as how to position yourself and adjust your property investing strategy to suit the market are all part of my regular podcast, which I encourage everyone who is interested in property investing to listen to, said Mr. Otton.
Investors interested in hearing Mr. Ottons regular radio show are encouraged to visit http://www.WeBuyHousesRadio.com. The website contains complementary downloads, transcripts and a range of other resources for investors to access free of charge.
For over 24 years, property investment specialist Rick Otton has built an impressive real estate portfolio using innovative strategies that he has developed that dont require taking out traditional bank-type loans. He constantly refines his techniques as he buys and sells properties through his We Buy Houses business, which operates in Australia, New Zealand and the UK.
A gifted speaker and educator, Mr. Otton conducts regular free seminars across Australia which build on the concepts he shares in his book How To Buy A House For A Dollar. The book was voted by Money Magazine and Dymocks Book stores as one of the Top 10 Most Popular Finance Titles for 2013.
He regularly broadcasts, records, and publishes the transcripts of his iTunes podcasts via We Buy Houses Radio.
Known for his innovative low-risk, high-reward approach to Australian real estate investing, Rick has been featured in a variety of television programs and magazines, including Today Tonight, Hot Property and Australian Property Investor.
Subscribers to Mr. Ottons We Buy Houses Radio no-charge podcasts receive a complimentary Property Investors Tool Kit. To learn more, visit http://www.WeBuyHousesRadio.com.
Read the full story at http://www.prweb.com/releases/2014/07/prweb12050303.htm.