Renting vs. Buying Property Calculator

Renting can offer some benefits over buying, such as flexibility, lower upfront costs, and fewer maintenance responsibilities. It’s ideal if you’re unsure about settling in one location or need time to save for a home deposit.
Renting also means you won’t be responsible for property repairs, rates or insurance. However, rent payments don’t build equity and rental prices typically increase over time. If you’re looking for stability and to secure your financial future, homeownership is the better long-term option in most cases.

Whether renting or building is best for you depends on your financial situation and long-term goals. Renting offers flexibility with fewer upfront costs, but you don’t create equity. Building a new home through a house and land package with Stop Renting Perth provides stability, potential property value growth, and a sense of ownership, but it comes with upfront costs and responsibilities.

If you’re tired of renting and want to invest in your future, building your own home may be the better choice. Our Rent vs. Buy Calculator can help you to compare your options.

Building a new home helps you create equity instead of paying off someone else’s mortgage. It provides stability, potential capital growth and the freedom to design, decorate or change your space however you like.

Homeownership can also offer tax benefits and act as a long-term investment. Unlike renting, where costs can rise, mortgage repayments remain stable with a fixed-rate loan. If you’re ready to stop renting and start owning but are unsure whether this is even a possibility, we can help you discover what’s achievable and guide you towards homeownership.

The main upfront costs involved with buying a home include:

• The deposit: This is typically anywhere from 5 to 20% of the purchase price.
• Stamp duty: In Western Australia, this is calculated on a tiered scale based on the value of your purchase price. This may be reduced for first-home buyers or new home builds.
• Lender’s mortgage insurance (LMI): Required if your deposit is below 20%.
• Conveyancing fees and building inspections:

Some government grants and schemes can help reduce costs, particularly when opting to build a new home over buying an established one. At Stop Renting Perth, we can guide you through these and show you an alternative and more affordable pathway to homeownership through one of our house and land packages.

When renting, you’ll typically need to pay a bond (usually four weeks’ rent), plus two weeks’ rent in advance. If you have pets, a pet bond may also apply. Additional costs can include moving expenses, utility connection fees, and optional renter’s insurance.

While renting has lower upfront costs than buying, which can make it more accessible in the short term, it doesn’t offer long-term financial benefits like homeownership. If you’re considering your options, our team can guide you through the pros and cons to help you make the best decision for your future.

The process typically takes 4–12 weeks, depending on loan approval, property searches, and settlement times. For our house and land packages, this timeline can vary based on several factors, however, settlement of your land purchase will usually follow a similar timeframe.

Pre-approval for a home loan can aid in speeding up this process and we help first-home buyers navigate every step smoothly. From your first meeting with us to the day you get your keys, we keep you informed and work diligently to have you in your new home as quickly as possible.

Yes, you can approach your landlord about buying the property directly. If they’re open to selling, you may be able to negotiate a price without it going to market.

Alternatively, it may be better to invest in a new build. Experts in navigating the process of transitioning from renting to owning, we offer house and land packages in locations all over Perth.

This could see you living in or near your current suburb and in a brand new home without any of the stress associated with negotiating a purchase from your landlord.

Yes, but there may be fees or conditions depending on your lease agreement. You might need to pay break lease fees, cover rent until a new tenant is found or negotiate with your landlord. Some landlords may also allow an early exit without penalty if you assist in finding a replacement tenant.

When you work with us, you do not need to break your lease to begin the building process for a house and land package. Additionally, wherever possible, we will do whatever we can to try and best line up the end of your lease with the handover of the keys to your brand new home.