Should I buy or rent a home in Geelong?

"The decision to buy or rent a home in Geelong, largely depends on your personal circumstances, financial situation, and long-term plans. If you're planning to stay in Geelong for a long time, buying a home could be a good investment. Owning a home allows you to build equity over time and could provide financial security in the future. However, buying a home also comes with significant upfront costs, including a down payment, closing costs, and ongoing expenses like property taxes, home insurance, and maintenance costs. Therefore, if you're not financially ready for these costs, renting might be a better option for you. Renting a home in Geelong offers more flexibility, especially if you're not sure about your long-term plans. It's easier to move from one location to another if you're renting, and you won't have to worry about the costs of home maintenance and repairs, as these are typically covered by the landlord. However, renting doesn't allow you to build equity, and there's always the possibility of rent increases or having to move if the landlord decides to sell the property. In conclusion, whether you should buy or rent a home in Geelong depends on your financial readiness, long-term plans, and personal preferences. It's important to weigh the pros and cons of both options before making a decision," remarked another expat in Geelong, Australia.