You can rent where you want to live and accumulate a portfolio of investment properties rather than owner-occupying your home. In terms of what you should be spending on rent, let’s say for comparison’s sake that you were renting a property worth $600,000. So you would be spending a total of $31,000 for rent and to hold your investment property, rather than $45,000 to live in your own home. If you were to rent a really nice property for $500 a week, you would have an extra $14,000 in your pocket. Even if you bumped your rent up to $600 a week or $30,000 a year, you would still be $10,000 better off.