The Advantages Of Buying a Property
Buying property is always a big step – no matter if you’re moving in with a loved one, going it alone or purchasing a multi-bedroom place to share with friends – and it always requires a lot of work. However, as with most things in life, if you plan in advance you’ll cut your workload and be able to get the best deal.
There are obvious benefits to being the owner of your home; the biggest being financial. Rather than renting and giving away money to a landlord each month, every payment you make is an investment taking you one step closer to completely owning your property.
Whilst renting is often seen as a temporary measure, some choose to do so for long periods of time. This means that sometimes your plans can be affected by other people’s desires – for example if your landlord bumps the price up because he wants more than what he agreed with you, then you might be left in the lurch as you may no longer be able to afford his new prices. He may also decide that renting out property is too much of a burden and decide to cash in. If you’re not ready to buy then this could leave you scouring the market again.
Another advantage to buying is that you get to make the rules for your home. With no landlord to answer to, or make requests to, you can live in as much squalor or as much luxury as you like. With no monthly inspections you can live as messily as you want – perfect for students– and if something gets broken you don’t need to wait for someone else to organise a replacement or someone to repair it. This is also true of upgrades – if you want a fancy new fridge to replace the slightly old, slightly odd smelling thing in the corner of your kitchen a landlord may be reluctant to replace it whilst it’s still, technically, in working order.
Redecorating is another important factor, and something that can really make a place feel like home, rather than just somewhere you happen to live. Again, this is an expense many landlords will feel is unnecessary, but is an exercise which many do as soon as they buy.
Whilst renting can be a good way to get to know a new city or a particular area or suburb, if you are looking to stay in one place then long-term buying is generally seen as the best option. It may be that your landlord is looking to sell and you can turn this to your advantage. They may not always want to sell, but finding someone who does want to get rid of their home shouldn’t necessarily be too hard.
Every city has countless estate agents, each with a vast array of houses for sale and, after checking with your bank manager or a mortgage lender as to what your budget should be, you will be able to get your keys and buy your own ‘home, sweet home’ doormat.
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Adam Singleton writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
