I have nothing against renting and will be renting in the next month or so. For $350/w i get to rent someone's brand new house in the outer suburbs (west) of Melb, whilst at the same time renting my own place out for a lot more and claiming as much as i can come June. It's not ideal as there is nothing better than living in and improving your own home but for the next couple of years it will do me fine and hopefully pay off financially.
