Surely you have heard that the value of houses has fallen or that it is better to rent than to buy, but the truth is that buying a house is still part of the dream of millions of families who yearn to have their own house.
Here you will see a list of the benefits of buying your house. Of course, this is also a purchase that comes with obligations, and before doing it you should evaluate if it is the best option for you or if it fits your current reality.
- You will feel that you have a safe space for you and your family
Being able to call the space that you inhabit “my house” will make you feel confident, and above all proud.
Buying your home will give you a sense of accomplishment by feeling that you have achieved one of your most desired personal and financial goals, and that will contribute to a better quality of life for you and the whole family.
- It provides stability
When you buy, moving from one rented property to another will be a thing of the past, which affects your pocket and the stability of your family positively. Besides the money, it saves you the time you have to spend collecting your belongings from the old house and accommodating them in the new one.
One of the biggest advantages is that if you have children they will not have to change schools, and they can continue to share with their friends in the community activities.
- The purchase is an investment
In the long term, real estate like the new houses in Meath is still a safe investment and now the economic crisis has passed, many experts see the future housing market with optimism.
In any case, it is important that you have real goals regarding your earnings. Again, these will not be reflected immediately; look for the best options in terms of surplus value and compare your options before buying.
- As an owner you can plan for the long-term
Maybe when you buy your house it does not look like a magazine and you dream of changing its interior appearance or even its spatial distribution. Although you cannot do it at the moment, you can plan many improvements for the future. As long as you take into account the building codes, you will have no problem doing so.
Sometimes improvements are small and purely cosmetic, for example, having custom curtains made for each room. If you live in a rented house and move out, you will probably lose that investment because the measurements might be different in the new place you move into.
- Owning gives you independence
You can make your own decisions and eliminate inconveniences with landlords. Many of them tend to inspect the houses they rent, sometimes creating uncomfortable situations for residents.
Being the owner also means that you can paint the interior walls the colour you like, you can have pets and even change the carpets and put that wooden floor that you like, or you can even build a terrace or an additional room.
- Build a better credit history
To buy a house you need good credit, but that’s not the end of it. Assuming that you pay your mortgage as required, this becomes your best credit score reference.
A mortgage is usually the biggest personal debt most people take on, and if you have a good relationship with the bank that lends to you, it will open many economic opportunities or the possibility of buying a better house in the future if that is your desire.