Buying a house is a big decision and a big investment to make. To help you make that decision, this article discusses 4 of the best reasons to buy a home, including security, investment, freedom, and most importantly, because it’s yours.
1. It’s Yours
One of the best things about buying your own home is that it’s yours. Your hard-earned mortgage repayments contribute to your own home, and not straight into your landlord’s pocket. Once you have paid off your mortgage, the property will be yours to live in rent free, without having to make everlasting payments.
2. Security
As you will be paying towards your own house, you will have increased home security in the long term, as a landlord can’t unexpectedly ask you to move out because they want to sell. Once you’ve paid off your mortgage, you can live in your home without worrying about having to move elsewhere or finding somewhere else to live.
3. Investment
A residential property is a sound investment as it generally increases in value over time. If house prices rise and you decide to sell, rent, or re-mortgage your property, you could make a profit. Buying can also be cheaper than renting, meaning you can save even more money in the long run. You could further increase your home’s value by making renovations to increase its investment potential.
4. Freedom
As your home is yours, you can live by your own rules without needing permission from a landlord. This means that you can have pets, make changes to the property, redecorate, and make your home feel like your home.
Buying a home may be a big and expensive decision, but there are so many benefits of owning a home. Whether it’s investment, security, or freedom, ultimately, your home will be yours, so the process will be worth it in the long run.
Before you commit to buying your own home, contact Allcott Associates so that a RICS chartered surveyor can help you to ensure that you are making a sound and secure investment. A building survey will help you to decipher what you will be investing in, including any maintenance or changes that will need to be made to the property.
