Now is the best time to go for it and buy your own home. If you’re having doubts about whether it’s the best decision, then you should read on. We will enlist ten of the most important reasons as to why buying a home is the best decision you could make today. After reading this, we can assure you that all your doubts and confusion will disappear. Read on and take note.
Reason #1: It’s a solid form of forced savings.
Believe it or not, buying your own home today is a solid form of savings. This is something that most people are not fully aware of. As a portion of your payment goes directly to paying for the principal of the loan, such can be considered as a savings plan. This form of payment is a means to build equity. You will find this very useful come the time that you decide to retire.
Reason #2: You get to reap all the advantages that come with being a buyer.
It’s a buyer’s market out there. Everything that you want will be offered to you. You won’t need to settle for anything less. You can be clear with what you want and what you need. You simply need to enlist your requests and your agent will go after it. You can even look for a pre-made house and land package if you don’t have the time to plan and customize everything by yourself. With today’s aggressive housing market, you’d simply get to live in the house of your dreams.
Reason #3: You’d get to have pets.
You’d own your own so you’d get to have as many pets as you want. Gone are the days where you need to ask for your landlord’s permission to house a pet. You’d also need to stress over looking for a place that will allow you to have pets. With you as the owner, you’d get to keep your pet with you with no trouble or hassle whatsoever.
Reason #4: You’d have peace of mind.
Renting can cause so much stress. All the paperwork, permits, and rent increase scares are just not worth it. With your own home, you won’t need to worry about such stressors. You won’t need to interact and discuss matters with a landlord. Every single decision will begin and start with you. You won’t need to worry about rent and you’d get to live at your home for as long as you want.
Reason #5: Prevailing low interests.
Now is the best time to buy your home because current loan rates are at their lowest. Home loans have never been this cheap. You’d be surprised that some monthly mortgage payments are even lesser than your current rent. Would you rather pay for rent over a unit that is not yours and will never be yours? Or pay for a low monthly mortgage for a place that is yours and will forever be yours? The answer is pretty obvious.
Reason #6: You will be the boss
Owning a home will allow you to truly be the boss. You’d get to have as many chairs, tables, or rooms that you want. You’d get to design your own space across all endpoints. You get to choose the house paint, the furniture, lighting, decors — everything. If you want ideas on how to plan your own home, you should check out single storey home designs in Perth.
Reason #7: You’d have the option to sell anytime.
Owning something means that you get to enjoy it however you want. That includes selling it. If you own a home, you get to decide if you want to sell it. This is perfect if you have a growing family and you see yourself buying a bigger lot in the future. Selling your house will be easier if you will be strategic in customizing your house design and looking for a location. Pick a lively location with a booming community. Demands around such areas will always be high.
Reason #8: You’d pay fewer taxes.
Being a homeowner will also allow you to take advantage of lower tax rates and numerous deductions. You can choose to deduct your payment interest or opt for tax deductions on home improvements and expenditures. The bigger your interest payments, the greater your tax benefits. You’d be amazed at how owning a home is way better than renting when it comes to taxes.
Reason #9: You’d get to take advantage of low housing prices.
House pricing increases every single year. It’s a fact that you could easily take advantage of. Choosing to buy now with the current low prices will allow you to effectively invest. The house that you’d build today will cost double or triple in years to come. Don’t miss out on this special perk. Buying a home is the safest way to secure one’s capital.
Reason #10: Homeownership pride
This is the most satisfying reason for becoming a homeowner. You’d know that you’ve already come a long way and reached a special life milestone once you’ve bought your own home. Owning a home is a clear testament of how far you’ve come and how hard you’ve worked. With a house of your own, you can always be sure that you and your family will always have stability and security. Owning a home is a gift that you know you deserve.
Follow Home Inside for more!