14 Feb 2012
There are possibly many great things about owning a home, and they are sure to be different for each and every homeowner but in today’s blog we thought we would go over why we think homeownership is well worth it.
*Investment – One of the best reasons for buying a home is because it could come to be worth a lot more in the years to come. As they say, “rent money is dead money” because it is money you will never see again. Paying money towards a mortgage on the other hand can help you build up equity and long-term wealth.
*Community – When you own a home you often feel like you can settle in more and this gives you a better chance to get to know your surroundings. Homeowners often end up establishing better relationships with their neighbours and their local community in general, simply because they stay in the same place for a longer length of time. Having good relationships with neighbours has so many benefits and in general you’re bound to feel much happier with the place that you live in.
*Ownership – It’s a great feeling when you own a home and you realise you can do with it what you want. When you rent you are restricted in a lot of ways in that you can’t renovate or change the look of your home. If you own your home though, then you can paint, extend, renovate or maybe even add in a pool. However you imagine your dream home to be, you can help create it if you own the home you live in.
*Stability – Owning a home offers a lot more security than renting does in that you know there’s no chance your landlord is going to kick you out and you also know that there’s no chance that you will have to pay more rent when your lease runs out. Sure there are interest rates to think about, but if you opt for a fixed-term home loan then you can lock in how much you have to pay for the next five years, which will make it much easier to organise your finances if this is an issue for you.
As you can see there are many benefits that come from home ownership and it’s rare to meet people who regret their decision to buy.
If you would like any advice about getting into the property market, then please feel free to get in touch with me at Professionals Arbee Real Estate
in Bacchus Marsh for assistance.