The new year is here, time to work towards completing resolutions! For many buying a house or condo is a common new years resolution. Buying a place to live is the biggest single purchase of most persons lifetime. There are numerous advantages for buying.
Advantages
- Return on Investment - The largest difference between renting an owning is the fact that with a mortgage you are potentially get the money back, where as renting you are paying for the use of the property on a monthly basis. At the end of the month the money is spent and you have to repeat the process for the next month's use.
- Customization - While renting generally the extent to which you can customize your space is by painting. There no limits are to the customization of your home except what you are able to pay and what the space will physically allow and what will keep you house up to code. In addition you can see the fruits of your repairs,upgrades, and customizations you performed add cash value and literally payoff should you sell.
- Establish Roots - While renting often has people moving between neighborhoods seeking a greater value for the unit on an annual basis buying allows you to really settle in to a location for the lifetime of the mortgage and join the local community.
- Privacy - Living in a building contains many different families and people. You notice the difference when you move into your own condo or you own home. Living in your own unit can be calming creating distance between you and the next unit. Living in your own home can be downright serene when you notice the scilence of being the only group of people residing in a building.
