When it comes to a question of renting or purchasing a house, it is always a good idea to purchase a home rather than rent it. Check out some of the reasons posted below and let’s face it, rather than having to kowtow to an owner’s demand, it is a nice feeling to own your own home and not have to explain yourself to others. But that being said, there are more than a few valid reasons as to why you would want to own your own home.
1. Investment: Buying a dream home is not easy but it is not an impossible dream either. Let’s assume that you have saved some funds, and you can take out a loan for the rest. You should then go ahead and purchase your dream home rather than have to rent a home for both you and your loved ones. But the point that you would have to consider is that it would make a great investment, one where you can expect the value of your home to double and even treble within a matter of few years. Check ‘homes for sale in Auckland’, and you should get fair idea as to what’s a fair rate for a two bedroom home or a four bedroom condo, etc.
2. Asset: The other reason that you would want to consider purchasing a home rather than renting one is that it would become an asset that would increase in value as the time goes on. Of course, it goes without saying that you would need to take care of your property and ensure that you maintain it in pristine condition. And soon, you should be able to sell the property with a healthy profit, several times the going rate that you had paid for the same property initially. Just Google “glen innes houses for sale”, and you should get a better idea on how to value your current home. Or you could always call in a few real estate agents and ask them for a free estimate which they would be more than happy to supply you with.
3. Rent: If you are strapped for cash, but do not want to sell your single remaining asset, then you can always rent out your property for a healthy profit. You would be able to do this, only if you own your home so that’s all the more reason that you would want to invest in a real estate property when you have the cash. You can then spruce up the property, rent it out through an agent and make some good money out of your property than let it sit just like that.
4. Loan: All right, you have purchased the dream home but you need cash urgently to invest in your business. You have a sound business model and know for sure that you would be able to pay back your loan with due interest within a year but no one is stepping forward to issue the loan based on your skill set and credibility alone. In such a scenario, you can use your home and mortgage it to obtain the cash you need or use it as an asset to underwrite the loan. That should help you get the necessary cash and you should be able to finance your business without a hassle. You can look out for glen innes houses for sale if you are thinking of buying a home for yourself.
These are some of the reasons that you would want to own a home rather than rent one. You can use it to underwrite a loan or use the same to invest in your business. The point is that owning a home would always prove to be handy in more ways than one. More importantly, you would be owning an asset that would increase several times in value over the years and that’s something else that you may want to consider when purchasing the said property.
Caitlyn Bell is an Arts student whose experiences in life make her really tougher than anyone else. She can lend you expert tips on diverse topics ranging from relationship to fashion, making money, health and so on. Her write-ups are a window into her thoughts and knowledge.