Before I moved to Australia, I wanted to be a digital nomad — to live with zero possessions, travel the world, and work from anywhere. The thought of owning property never crossed my mind, let alone building a portfolio. But since moving to Australia, my views have completely changed. Here’s why.
✈️ Being A Digital Nomad: Freedom Over Finances
Before Australia, I lived in the UK and Singapore for five years with no plans to stay put. I was ready to quit my job, live out of a suitcase, and see the world — even if that meant living on a tight budget. I was happy to trade money for memories.
Owning property seemed like the opposite of everything I wanted: a huge financial commitment, zero flexibility, and a mountain of responsibilities. Back then, I didn’t value physical assets — I moved often and could pack my life into a suitcase in half a day. I kept things light, simple, and flexible.
🏡 Mortgages Weren’t an Option
Where I grew up in Vietnam, home ownership was common — but mortgages were not. For many in my parents’ generation, borrowing from the bank wasn’t a real option. Incomes were often unstable, and the financial system lacked the transparency and reliability banks needed to lend confidently to residential property buyers.
Property investment was mostly limited to those in government, where access to wealth often came through connections rather than merit. In that environment, the idea of taking out was simply out of reach.
Moving to Australia: A Whole New System
Then I moved to Australia — and everything changed. I quickly realised that, while property prices here are high, so are incomes. More importantly, people have access to finance. Home loans are relatively affordable, interest rates (at least when I first arrived) were low, and there are systems in place to support home ownership.
Compared to Vietnam, the economics made much more sense. For example, in Hanoi you might rent an apartment for around $400 a month, but that same apartment could cost $200,000 to buy. At an interest rate of 10%, the mortgage repayment would be closer to $1,750 a month — more than four times the rent. In contrast, in many parts of Australia, monthly mortgage repayments can be comparable to or even lower than rent. If you’re planning to settle down, owning can be a smarter long-term move.
📈 Paying Off a Mortgage vs Paying Rent
That’s when I started to think differently.
Rent is money you never get back. You’re essentially paying off someone else’s mortgage. But when you own a home, every repayment helps you build equity — a valuable asset you can later use as leverage to invest in more property or other assets.
There are also some tax benefits. If your rental property makes a loss, you might be able to use that loss to reduce your taxable income — this is known as negative gearing. And if you hold the property for more than 12 months, you could be eligible for a 50% discount on capital gains tax when you sell. (I actually made a video on how to reduce capital gains tax HERE — feel free to check it out!)
💰 A Different Kind of Saving
One unexpected benefit of owning a home is that it forced me to save. I’ve always been quite frugal, but knowing I had a mortgage to pay meant I had to be more disciplined. I cut back on travel, saved more for emergencies, and started thinking about my long-term goals. It gave me a sense of security I hadn’t had before.
🏠 Stability vs Flexibility
When I was renting, we had inspections every three months, and at one point, the landlord decided to sell — meaning we had to move. It was disruptive, expensive, and stressful. Applying for new rentals, attending viewings, dealing with agents — it all takes time and energy. Owning a home gave me stability, which in turn allowed me to focus on growing my business.
⚠️ It’s Not All Sunshine
Of course, property ownership isn’t perfect. There are some downsides too, including:
- You have to cover all the repairs and maintenance costs yourself
- If interest rates go up, your repayments go up too
- If you need money quickly, it’s not easy to sell a house straight away
- And owning a home can make it harder to move around if your situation changes
It’s a big responsibility, and it won’t suit everyone. But for me, it was the right decision at the right time.
🧭 Final Thoughts
For a long time, I thought owning property would tie me down and take away my freedom to travel. But it turns out, the opposite is true.
Owning property hasn’t stopped me from living the life I want — it’s helped me build the foundation for it. It’s forced me to be more disciplined with money, helped me grow my wealth, and brought me closer to the bigger dream: having the freedom to work less, retire early, and travel more — not just for a few weeks here and there, but on my own terms.
It’s not always easy, and it’s definitely not for everyone. But for me, buying property in Australia wasn’t just a financial decision. It was a mindset shift — from short-term freedom to long-term possibilities. And it’s one of the most important decisions I’ve made.
Disclaimer
In Money Talks series, I share personal reflections on money — everything from budgeting, investing and saving to mindset and lifestyle. This isn’t financial advice. I’m not writing this because I think I’ve got it all figured out. I just want to share what I’ve learned along the way — personally and professionally.
Some of it might be useful to you, some not — and that’s totally fine. What works for me today might not work tomorrow. If you want tailored advice, please speak to a financial advisor. Otherwise, read with an open mind and feel free to share your thoughts in the comments.
