The type of property you buy should reflect the purpose of the purchase. Are you buying for your own use or as a investment to rent or fix and flip? Buying a property for investment will be covered in another post. In this article the benefits of buying a home for personal use is covered:
Appreciation
You may build equity if your home goes up in value. History is on the side of home ownership here.
Mortgage Reduction
Since a portion of your payment pays down the amount of the mortgage, eventually you will be mortgage free. Rent never goes away!
Improvements
You can decorate and improve your home to suit your taste and increase its value and enjoy owning your own home at the same time.
Stability vs Instability
As a home owner, you have complete control over when you move versus moving when you may not want to. You will also enjoy peace of mind living in your own home.
Retirement Fund and Savings Plan
A mortgage-free home is the best retirement fund. You get to live in and enjoy your investment.
Monthly Cost – Rent vs Buying
In most cases, the cost of owning your own home may be cheaper than renting. A handy payment calculator is coming soon that will help you compare rent vs owning.
5% Down Payment
First time home buyers, and many others renting, are entitled to the minimum down payment of 5%!
Cash Back Mortgage
Some banks are offering cash back incentives on mortgages to home buyers, versus extending the lowest mortgage rate, providing help with purchasing furniture, appliances, or even legal fees.
Tired of Renting?
If you would like more information on buying a home please do not hesitate to call me at 416-830 7200 or emial me at mahmudnaqvi [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][at] gmail.com to begin the process of finding your new home. You will receive a response promptly! I realize you’re only in the information-gathering stage right now. Please be assured that I’ll respect your privacy.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
