Have you been considering owning a home? Perhaps you are ready to take the chance but don’t know where to start. Perhaps you own a home but are wondering if the perks are everything that it has stated in the past. Regardless of where you are in your housing journey, there are so many great home buying perks. Keep reading as the Vancouver mortgage broker experts explain what the biggest perks of owning a home are. You won’t believe some of them!
An investment in the future
The first reason is that it can end up being such a wonderful investment. You have probably heard time and time again that when you rent, you are throwing away money. We are here to tell you that that is so true. When you pay a mortgage, you are paying it towards something you can end up owning outright. When you are paying rent, you are paying for someone else’s mortgage in which they will end up owning the home or apartment outright. Which would you rather do? Have your money go towards someone else or go directly back into an investment. On top of that, the housing market goes up over time. So, what you paid for your house today should go way up in the future depending how far down the road you sell it. So, not only are you locking in a mortgage, but you are locking in a lower mortgage than you would be paying in the future for rent. Investing in real estate is a wonderful asset to your future.
A place to call home
It’s always great to have a place to call home. Whether that means you are calling it home, you and your spouse are calling it home, or your entire family is able to call it home, it’s so nice to be able to have a home base that you trust. Typically, when you are renting, you are going from place to place. You don’t have a place that feels like yours. If the landlord suddenly wants to sell the properly then you need to move. Owning a home is a feeling of security that you don’t get while renting.
Design it yourself
One of the best parts about having a home is that you can make it yours. That means if you want to change the color of a wall, you can paint it whatever color you want, you can choose. If you want to take down a wall or add a room, you can do that. You can make the value of the home more by adding something like beautiful hardwood floors. The options are endless.
Stop having a landlord
Having a landlord can sometimes have its perks. You can ask them to fix something if something is broken. Let’s be honest though, that’s about it. Having a landlord means you know that someone else technically owns the home or apartment that you are living in. Having a landlord means that they may be someone you don’t get along with. If you own your home, you never have to deal with having a landlord again.
No more deposits
It seems as though you never really get your deposit back, am I right? The apartment or home always ends up finding things wrong, even if it’s just normal wear and tear. When you are moving frequently you end up having to write a lot of deposit checks. That means it ends up costing you a lot more money to be renting. If you purchase a home, you don’t write any deposits for the home and you don’t in the future too. In fact, if you rented out the home in the future, you would be the one collecting the deposit checks.
You can have animals
Many homes or apartments that are for rent don’t allow animals. This is especially true if it’s a larger animal or a not so normal animal like chickens. If you own your home, you can have whatever animals you want in it. That means, that Pitbull that you have always wanted to get, you are able to get them and bring them into your life without asking permission. If you are looking to live on a farm, you an have as many animals as you want and not have to worry about someone saying no or getting in trouble for having a specific animal.
You own a home
Ultimately, a wonderful perk is that you own the home. The home is yours. You don’t need to worry about someone dropping by. This home is yours and you know that you are doing something great currently and for your future. Owning a home has a lot of benefits as you can see, but it being YOURS is one of the best ones of all.
As you can see, owning a home can have so many amazing perks. One of the biggest perks of course is that it can be such a wonderful investment. Whether that investment pays off in just a couple years, or it is a long-term investment for your retirement, it’s always a great idea to start as soon as you have the down payment. Finally, say goodbye to renting once and for all and contact a mortgage company to see what type of mortgage you can get to start having the great benefits of owning a home. We hope that this list helped, and you leaked some wonderful perks about owning a home. Good luck with your home buying process!
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