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The Pros and Cons of Renting and Buying

It’s a well known fact that what your father told you, was right. Bricks and water are the most expensive thing you will ever buy. But whilst many of us are ignorantly living in the blissfulness of our home comforts, it isn’t until the time comes that you want to fly the nest, that deciding whether to rent or buy proves one of the toughest decisions to make.

As each have their own advantages and disadvantages, it tends to fall down to the type of person you are and the responsibilities you want to have, as well as your financial situation, in order to make a final decision.

Housing expert, Natalie Elphicke predicts that by 2041, just a mere 49% of us Kiwis will own our own homes. Assuming this comes to light, renting could soon become the norm in years to come. But first, lets take a closer look into the pros and cons of each.



  • If something breaks and needs repairing or replacing, this could be anything from the boiler to the window, it is your landlord’s responsibility to see to it, at no cost to you.
  • You can test out living in a different area, before you tie yourself down with a mortgage and commit.
  • You can move on to another property or location with only a month’s notice.


  • It can be very frustrating not being able to make home improvements to the property that you might want to do, as you will need permission from the landlord. Therefore personalising and putting your own stamp on things can be difficult.
  • If you’re renting in a shared property, you could be living with inconsiderate housemates who could be noisy or messy.
  • The property will never be yours. You will never make any money on it and you will always have to continue paying the monthly rent. The current gap between renting and buying has closed by a difference of just $79, the closest it has been in 20 months!
  • The landlords have the power to evict you at any given time.



  • You can do what you want with the property without having to wait for permission first.
  • Save you money in the long run.
  • You will eventually have sole ownership of the property, which, dependent on the property market, could increase in value.
  • If it does increase in value, you could put the equity into a bigger house or likewise, downsize and still have a sum left over.
  • Contrary to popular belief, it can actually be cheaper, or the same, to buy than rent.
  • Once the mortgage is paid off, you can live rent free, with just bills and maintenance costs to pay out for.


  • There are a lot of extra costs involved that can sometimes be overlooked i.e. solicitors fees, rates, surveyor costs, deposit money, removals costs etc.
  • If things break, it’s down to you to replace or fix them i.e. if the hot water cylinder packs up. So make sure you factor in maintenance costs, buildings insurance and repair bills when planning out your money and what you can afford.
  • Taking on a mortgage can be a very daunting and scary thing and people can feel intimidated by the commitment. However as long as you do you research and make sure you can afford it comfortably on your wage, without having to completely give up any luxuries such as holidays, meals out etc. , you can be fully prepared and ready to take it on.
  • If interest rates rise, your mortgage repayments will also increase.

So, when the times comes that you begin to delve deeper into the wide world of renting or buying, use our helpful tips to instigate our planning and to make sure you have every angle covered!

Fragile Removals

Whether you’re moving from your own house or a rented property, the professional team here at Fragile's can help with every step of your move, including our secure, personal storage facilities in Waikato. To learn more about our services, please get in touch with us today.