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“Rent vs Buy: From $60k Savings to a Multi Million‑Dollar Portfolio”
Manage episode 502883270 series 3684950
Episode description:
In this instalment of TFS WealthCast, host Vishi turns the spotlight on Pramu Rodrigo and Sonali Rodrigo to explore one of the biggest dilemmas facing aspiring homeowners: should you rent or should you buy?
With humour and hard-earned insights, the couple unpack the latest expansion of the Home Guarantee Scheme now offering unlimited places, no income caps and the ability to enter the market with as little as a 5 % deposit and avoid lenders mortgage insurance from 1 October 2025 housingaustralia.gov.au. They explain how higher property-price caps (up to $950 k in Victoria and $1.5 m in New South Wales) give first-time buyers more options.
Pramu and Sonali break down the long-term financial impacts of renting versus buying, showing how a small increase in monthly repayments can translate to hundreds of thousands of dollars in equity over a decade. They share how they started with $60 k in savings, leveraged government grants (such as Queensland’s $30 k first-home owner grant qro.qld.gov.au) and stamp-duty concessions to buy their first home, and then steadily built a multi-property portfolio before turning forty. They emphasise treating your first home as an investment stepping stone using incentives, staying within market price ranges, and avoiding overcapitalisation to unlock the equity needed for future purchases.
Throughout the episode, Sonali’s data-driven, risk‑managed approach complements Pramu’s entrepreneurial deal hunting. Together they illustrate how couples can harmonise different financial mindsets to build wealth while juggling career, family, and household duties. Whether you’re about to step onto the property ladder or weighing up rent versus buy, this candid conversation offers practical advice on finance, strategy and making the most of the Home Guarantee Scheme.
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12 episodes
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