Because Owning is better than Renting
It's always been a matter of discussion that which one is better-Owning or Renting a House?
Before you decide for any one of these we wish to put some light on the benefits of owning a house. Let's take a look:
Loans do end, but Rent is forever-
It is clear that paying for some time is better than paying forever. Within next 15-20 years, all the loans will be paid off, and you will realize owning is better than renting.
Rising Value (benefit of the owners and loss of the renters)-
Property and Home values rising over time will ultimately result in equity gains for the owners, but proportionally renters will have to pay more rent because of this rising cost of the property.
You will be the sole deciding entity of the house-
Whether you want to paint it in bright colours, or you want to do some creativity around the room or make some alterations, there will be no one to interfere with a bossy attitude.
Investment for your future-
Owning a house will not only give you the sense of physical security but a financial security too.Capital needs in the future can be easily fulfilled either by selling or borrowing against your property.
Every Payment leads you to the ownership-
Each instalment takes you closer to the ownership tag of your home but giving rent every month will get you nowhere in the end.
With some clauses in the long rent agreements owners often asks their tenants to vacant the property on short notice while giving some personal reasons for the same. Getting your own place can save you from this risk for sure.
Tenants face untimely visits from the landlords sometimes even with their spying behaviour. Owning a house can spare you from those privacy concerns.
No worries after retirement-
With increasing age you ought to leave your job which will certainly affect your earnings at a time and here owning a house will ultimately give you a tension free life.