ARE YOU BUYING A HOME?
A home purchase is an important step in any persons’ life and as expected the advantages that come with buying a home are more than those attached to renting. Granted, when a person leases a property, the amount of liability they are expected to cover is greatly reduced but in the long run it is better to own your own roof.
There are several benefits that come with a home purchase. The home is yours so as a result you can modify the abode. In today’s economy real estate prices can go up and down however long term ownership of a piece of real states has proven to increase in value. The payments you make on your mortgage will eventually pay off the loan. One day the payments will come to an end. Compare this to renting where payments are perpetual without adding any significant value to the current occupant’s life.
A home purchase therefore makes more sense than renting no matter where you live. Even if you travel allot or move around from place to place owning a piece of real estate for investment purposes can be a great way to built your wealth.