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Benefits Of Buying A Home Over Renting

As unreasonable as it sounds, buying a home is a lot better than renting one. Once you purchase a house, you gain total ownership and you never have to worry about landlords knocking at your door every so often. On the other hand, renting a home means you have to set aside a small portion of the peanuts you earn every single month to pay for your rent bill. Majority of landlords if not all will rarely allow you to continue staying in an abode that you have not paid for. In fact in most cases, failure or delay in paying rent means you will have to pay with a fine and in the worst scenario, get evicted.

Those who buy homes stand to benefit from several gains. For one, permanent homes serve as a protection net. This basically means you are assured of always having a place to stay. Think of a case where inflation rates have shot up causing the cost of everything else to rise including the rent bill. Unfortunately, the rise of inflation does not necessarily mean your income will also be raised. If you were not prepared for this, you may find yourself spending a few nights on the streets before you get an affordable housing. If this happens, you may rent one of those studio rental houses which are often considerably cheap.

Buying a home is a good source of investment. One who saves to purchase his or her own home is making an investment of a life span. If the homeowner resolves to make improvements on the abode, this individual is adding value to that house. This in turn adds to the value of the equity, that owner initially invested in. House and land prices always tend to appreciate thus the home owner may even opt to let it out as one of those holiday packages Apia and build another one for himself from the rental fee he gets.

Permanent homes offer one great advantage; freedom. A homeowner is at liberty to paint the house, start an apartment garden, set up a gym or a swimming pool just to mention a few. On the contrary, a tenant cannot do any of these without the consent of the landlord. Moreover, there’s limited space to set up gardens or swimming pools as you would wish.

Owning your own home gives room for flexibility. If you make upyour mind to spend your vacation overseas you are assured that you always have a home to come back to. Even if you plan to go for a year or more, you can always leave your home to trustworthy friends. With rentals, if you are forced to be away for long you can either pay for the rent of the duration you will be away or give up the house.

Generally there are more benefits to owning a home than renting. Start saving today and you could find yourself living in your own abode in the next few years.

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