If you are facing the decision of buying versus renting and are unsure which one is the better option, here are some of the many advantages to owning your own home that you should know about before making your decision.
A Nest Egg
One of the biggest advantages to owning your own home, is that generally homes increase in value over time. This will build your equity in your investment and provide you with a financial nest egg for your future. If it is your first home purchase, it’s important to do your research and seek expert advice so that you make the best purchasing decision possible to give you the biggest future outcome possible.
Affordable Options Exist & Mortgage Costs Are More Predictable
In Queensland, there are many financial support options available to first-home buyers. Making the deposit for your first home purchase easier to achieve than ever. Many people simply assume that they can’t afford to buy, but we encourage all those thinking this to seek financial advice. It really is more achievable than you think. Plus, if you opt for a fixed rate mortgage, your costs are predictable and much more stable than renting.
There’s Pride in Homeownership
With closer ties to the community and a sense of belonging, owning a home is about more than just the costs. You can be proud of your purchase, know that it was a good financial investment and that it’s something that will grow with you. Homeownership is something you can show off to friends and family, love living in and even just quietly admire knowing that you made the right choice and finally took the step and become the owner of your very own home.
These are just three of the very many reasons why buying a home over renting is the more advantageous choice. Don’t make the mistake of waiting too long, make the step now and invest in your future.