REASONS FOR BUYING
PROPERTY
People buy a home for a lot of different reasons. They may want to put down roots in a community and create a sense of stability in their lives. Then there are the financial considerations and the "forced" savings that builds up in the form of equity. In addition, the monthly cost of owning a house is usually much more stable and predictable than renting.
Below are the common reasons why people will decide to purchase a home of their own. Understanding your own reasons will help you make a choice in what property you want to buy.
- Higher social status of owning a fixed property
- Security of tenure - no landlord hassles
- Home ownership is a durable (real) investment
- Historically, property has appreciated in value for decades
- Bond repayments become a solid form of investment
- Home ownership allows you to accumulate capital equity
- Home ownership offers you an opportunity to take control of your housing costs, i.e. tailor-made financial plans are available to suit your pocket
- Bond repayments are more predictable than rentals
- Ownership gives freedom of choice when choosing your community, architecture, interior decor and garden size
- Home ownership is the key to financial security
- Home ownership is a form of building an inheritance
- Property makes an excellent investment compared to most policies
ARE YOU IN THE MARKET
If you are considering the possibility of purchasing a home, contact a knowledgeable real estate agent in your community. An important part of our job is to educate prospective buyers about the potential benefits and responsibilities of renting versus owning a home.
We can help you determine your purchasing power and show you the best homes in your price range. We can also give you a side-by-side comparison of the costs of owning a home compared with what you pay for rent. When you fix up your home to suit your needs and taste, you benefit from the added value of the improvements instead of the landlord!
YOUR INVESTMENT
Shelter is a very basic human need which most people accommodate by renting or buying a house or apartment. Rental property is often less-than-perfect. Tenants usually experience a rent increase every year or so and feel somewhat at the mercy of the owner. They don't necessarily feel a strong commitment to the property or the community.
Making a decision to buy a house is a major commitment, and the decision has both economic and emotional implications. Instead of paying the landlord's mortgage every month, homeowners pay their own mortgage and build up equity in their investment. When they paint, plant flowers or make improvements, their family reaps the benefits of a more beautiful environment. Homeowners are much more selective than renters about finding the perfect home, and their sense of personal satisfaction heightens the pride of ownership.
If you are wanting to become a homeowner, why not contact us and let us make your dreams come true.
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