Many people today are set on buying a house, it’s a goal that people almost think verifies them, it makes them a proper adult and makes them appear successful. If these are the reasons you’re looking to buy a house then maybe you should think again. Don’t buy a house to please other people or to validate yourself, buying a house is a big commitment and it shouldn’t be something taken lightly. However, there are many good reasons why you should think about getting on the property ladder:
A place to call your own
This is one of the main reasons why people get themselves down to the estate agents and enjoy owning a home because it means they can do what they want with it. You can paint the walls red, have a games room, turn a room into a walk-in wardrobe or rip out the kitchen and start again. When you own the home, as long as you have the relevant planning permission when it comes to extensions and things, you are otherwise free to do what you please. It costs more money of course but it’s up to you how you spend that money and you have the freedom to spend it on your house.
Stability and security
When you’re renting a house or staying with someone else, you’re not in control, and the landlord or homeowner could turn around at any minute and ask you to leave to decide that they are selling the house so you can’t live there. Circumstances change and when you’re reliant on someone else life becomes more unpredictable and less secure. If you have a family it’s important to provide them with stability and security and owning your own home can do this. It means that you know you can settle and start to build a life somewhere, knowing that you won’t have to move.
Money and Investment
While it is expensive to buy a house and you need to save a significant deposit to put down in the first instance, once you are over that hurdle and have the house then the savings and the investment make a huge difference to your life. You’ll be paying your monthly mortgage which is usually cheaper than rent, but this is also going towards your own home, rather than into someone else’s pocket. Homeownership is also a great tax shelter and tax rates favor homeowners. It also means in years to come once you have paid a substantial amount on your home, then if you need to borrow money from it, you have that option.
Owning your own home brings a lot of responsibilities and it is important to make sure you’re ready to be a homeowner, but it does bring a lot of benefits too and is a great feeling when you own your own house, you go home after a long day at work and sit in your lounge which is just the way you want it and you know that it’s yours.