A home is more than just a space where you lay your head in or have your meals at. It’s not just four walls and a few pieces of furniture spread around in an x number of square meters. Your home is your safety, a place where you can unwind after a busy day at work and let off the steam of the day. Whether you live by yourself or you share it with your loved ones, it is important to secure a place where your safety and wellbeing needs are met.
Choosing whether to buy or rent a home can be challenging, particularly if you are uncertain about the sort of commitment you want to make. If you find yourself in a position where you can choose between buying and renting, the former is always the right answer
It’s always been a debate whether renting or buying is the better option. Truth is, it is actually subjective. It depends on your situation and what stage of your life you are currently going through. You can’t expect a junior just starting their career to buy a house. However, a person who’s already far into their career with a stable income that can comfortably support their everyday life will definitely benefit more from owning a house rather than just renting it.
Buying a house isn’t a purchase to take lightly. It is a big expense that requires a lot of planning. However, having the house you live in yours will provide you with an emotional connection and a sense of stability that renting won’t, which makes it worth the huge investment. It will make you feel like you’re truly living in your own home and not paying to crash in someone else’s for a certain period of time. In the case of rent, after years of paying your landlord you would have thrown your money down the drain. The moment you stop providing them with the money is the moment you lose your home.
However, you can pay that exact same amount of money monthly to purchase a home and this way you would have something to show for it. Your money will not be going into vain as the property would be yours. Otherwise, your landlord will be the one benefiting from the return on investment.
Purchasing your home will give you the possibility to benefit from an increase in property value that renters don’t get. It will help you build a profitable asset that is worth more than just a place to live. With a chance that your home value will increase someday, you can take that opportunity to sell, move out on a profit, and buy a better house for yourself. However, there’s also the chance for it to decrease in value. That will not affect you in any way. A drop will not take your home away from you, so it’s a win-win situation.
Another reason why owning a home is preferable to renting is that it will give you control that you won’t get otherwise. If you are living in rented accommodation, there’s always going to be a possibility that your landlord will increase the rent or decide one day that they want to sell the property once and for all. Owning your house will eliminate that stress and give you full control of its fate. Even if you feel like you can’t afford to pay for it anymore, owning your home will give you the advantage to sell it and use that money to help you move out.
To end on an exciting benefit, owning your home will give you the complete freedom to do whatever your heart desires with the space. There’s no one to tell you that you can’t paint the walls or change the flooring. It is even possible to change the whole layout if you feel like you want one room smaller or another with a walk-in closet. You can have it look however you imagine it; it’s yours after all.
For anyone, homeownership is the best option. However, there are certain requirements that will determine whether you have the necessary credentials to start your journey to become a home owner.
If you match the requirements, it is safe to say that you are ready to start your home hunting journey.
You can’t put a price on homeownership. Everyone deserves to live in a place that actually feels like home and somewhere you can call your own.
Have you decided to become a home owner?
Use the “Spend a day with Range” Service to find the best property.
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