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Why is Buying Houses, Townhouses, Flats Better than Renting?

The benefit of buying and owning property

I know it can be tough to get to the point of buying property, considering the transfer fees, registration costs and /or deposit for a home loan, which can amount to a rather small fortune.

Look at is this way: let’s say you go out and rent a place, you stay there for one year, and move into a better place to accommodate your lifestyle, and remain there for another eighteen months, now you decide to buy your first property. Hopefully by now you can see where this is going, yes just by adding your first year’s rent, plus the deposit, could have covered all or a large part of the rather small fortune. The other eighteen months rent could have been contributed towards your own property. Simple math no need to draw the numbers.

Most young people seek freedom and independence these days, nope, since long time ago. Moving out of their parents’ house is the first thing that comes to mind, especially when they find themselves in a position where they can afford to pay for accommodation. Good enough, you earn a steady income, you’ve worked hard for it, and you can enjoy the rewards and afford a living. Moving out is the only option. Huh

Don’t just move out, move out and into your own house

Facts:

  • You pay less every month for your bond than paying for rent.
  • It’s yours – you are allowed to say, get out of MY house!
  • By renting, you are helping the owner/s, pay for their bond, sometimes faster, and even giving them extra pocket money.
  • You must look for another place to stay if the owner decides to move back.
  • Last but not lease, you can make your house a Home.

On average, it takes about six months to build a good credit profile, three months to find balance with your spending and budgets, then another three to find a place to rent. Now during those twelve months of discovering and building yourself, if you have not saved enough money towards that rather small fortune, you have another year to spend with your parents. Don’t rush into moving out, remember there is lots of free stuff at home 😉

My point is, don’t make the same mistakes that thousands if not millions of other people has made over the past decades. If you see an opportunity to buy property, go for it. One cannot go wrong when investing in property. Think of it, as starting an empire of freedom. And if you have bought the property, and/or months down the line, things don’t go too well; please read the third bullet again, and put it into action.

1 comment

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