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Welcome to our blog, Menfranco general blog
and this post, The advantages to own a property
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The advantages to own a property
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The unseen advantages to own a property
In
our last post, we were discussing finance and what would be safe to borrow.
With this post let us discuss what you could gain by buying your own house, you
see there are real gains to make if you make an effort to buy your house; first
of all you become more independent as you don’t have a landlord to answer to if
you want to do something out of the ordinary; but that is not the main
advantage, because we are sure that once you own your house you are going to
behave just like any landlord does, so you are not going to do any of those
stupid things that some tenants do and believe that they have a right to do it,
just because they have paid the rent; you see, the main advantage is financial
gains and independence and also you would feel proud of owning a property,
because you have achieved something worthwhile in your life, but how does it
work you may ask?
Here
above we have written about a few things that you need to know, before you go
out to buy your own house or whatever property you can afford, we have also
discussed how much it could cost you, what we have not mentioned is that
repaying your loan becomes easier with the passing of time, and this is one of
the main gains that property owner would achieve with the passing of time. You
see the loan repayment do not go up like the rent does every now and then; so
because the loan repayment would remain the same until the full loan is repaid,
at least this is what should generally happen, repayment become easier after a
few years.
Because,
with the passing of time everything goes up, but your loan repayment remain the
same, therefore it become easier and easier to repay the loan, because your
earning goes up at least as much as the inflation, this is the first thing that
a new owner notices with the passing of time, but there are more advantages
than just this issue.
Now,
because you earn more money, you could afford to repay your loan sooner, but
first of all make sure that you have everything else that you need to buy
before you do that, because the home loan is the cheapest money you can get in
terms of charging interest, once you have done that, go ahead and pay your home
loan as soon as you can.
Another
one of the advantages that most of us don’t note is the increase in the price
of the property, this increase is a very positive advantage for the property
owners, if you talk to any real estate agent in Australia, they will tell you
that in this part of the world, properties double in price in about seven
years, so in seven years time you would have gained at least on paper all the
increase in price that has gone up, in some cases it could indeed be twice as
much, even though it is the same property that you bought seven years ago, I
hope you see what we mean here.
Now,
let me explain what I believe and what one should do if you are able to save
some money, first of all try to buy your own house and pay it off; and then if
one day after you have paid your house, you are able to save more money, it
might be worth to invest in real estate again, because price in real estate
will continue to go up.
This
is all for the time being, I will come back to edit this post one day, if I
think I have to add more information or something else, I will do so.
Today
we have found something in the Internet that should be interesting to would be
home buyers, so we would like to past the link here, for you to check it out; Things You Should Check Before Buying A Home,
we hope the link works for you.
See
you soon in another building post.
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This is:
Menfranco general blog,
The advantages to own a property
IS TO BE CONTINUED;
Next time with, another post about buildings.
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