Here is the Top 10 reasons to own a home (Home ownership) according to your local Bayswater real estate agents at Surreal Property Group:
1. Housing is usually the only way to invest large amount of money from the bank. Banks wont loan big amounts unless they are to purchase property. Home ownership is the perfect way to get some capital.
2. You’re are paying for housing anyway. Whether you own or rent, you will most likely be paying for property anyway. So why not use your hard earned money to invest in your future by buying on the property market.
3. Owing money on a property is a type of saving. Instead of having the funds in your bank account and trying to save with them. If your money is tied up in property and housing then you cannot spend it and this makes you save.
4. Tax benefits to home ownership can help around the end of the financial year.
5. Beating inflation– inflation is a necessary evil that exists in modern society (to lean more about inflation click here). Everything is becoming more expensive and it no longer makes sense to hold onto your money. You have to invest it, and a wise investment is in the property market
6. Legacy– owning a home means you have something to pass down to the generations under you. With a solid asset you know your family will be looked after long after you leave.
7. Physical structure– having your own space and a roof over you and your families head is empowering and a virtue of success in modern society. Investing in something tried and proven, that also provides shelter and comfort is always a winner.
8. Control over interior, exterior and the house- unlike renting, with ownership you choose what goes into the house, what renovations you make and how the property looks. While renting we hear many stories of renters wanting to install a cat flap or paint a wall but the landlord will not allow it. Avoid this trouble by having your own home.
9. Having a steady environment to raise children- Children thrive on constancy and having a home to grow up in is very important. By buying a house in a nice area with a great school you can ensure your children have the best chance to grow and flourish in modern society.
10. Security– knowing you have a solid investment will help you sleep sound knowing your future is taken care of.