Johanes Ribli Gorilla Motivation:
Homeownership is something that many people go back and forth about. There are pros and cons to both owning and renting a home, but overall, buying property is a great decision for loads of people.
If you’re nervous about purchasing your first home, don’t worry, you’re not alone! But here are five solid reasons why we think it’s a great decision and one that will benefit you in various ways.
You Can Design Your Dream Home
First of all, when you own your house, you can do whatever you want with it (within reason). First of all, make sure to pick the right area. When buying your home, you can choose an area that aligns with your ideal lifestyle. For example, Florida real estate is popular with people who love a more laidback lifestyle and gorgeous weather year-round.
Once you have a home in your dream city, you can renovate it until it matches your ultimate vision.
It’s a Form of Wealth
A home is an asset. It’s a huge personal belonging and one that can be passed on to your children. Sure, buying a home isn’t cheap, but when the mortgage is finally paid, you’ll be the proud owner of something wonderful.
Your home can also be sold in the future, hopefully for a profit, or used as a means of passive income if you choose to rent it out. This shows that property investment is a great move for your financial future in many cases.
You’ll Have More Stability
Owning your own place means that there are a few key things you’ll never have to worry about, such as the financial situation changing. If your landlord decided to put up your rent, you can try to negotiate with them but you won’t always come out on top.
Further, you don’t need to worry about leaving at short notice, say if your landlord wanted to move back into their own home or has any other plans. With your own property, you know you’re safe.
You Have More Control Over the Costs
Similarly to that stability, you’ll be able to carefully monitor and control how much the home costs you when you own it (or while you’re paying your mortgage).
You’ll be more likely to save money, even if your mortgage takes up a large chunk of your budget. Being in control offers yet another layer of security, and while there are costs you simply can’t avoid, there are plenty more that you can.
You’re Not Throwing Money Away
While there are various costs associated with homeownership, you’re never giving your money away simply to have a roof over your head, but rather paying for something that belongs to you.
Many renters complain about the concept of having to “pay for somebody else’s mortgage” which is, essentially, what they’re doing. When you own your home, all your living expenses are going towards something that is solely yours, which is a great feeling and a smart financial decision too.
Johanes Ribli Gorilla Motivation