The endless supply of bad housing news has discouraged some potential home buyers from considering a purchase. Yet the truth is most of the advantages of owning a home have little to do with investment gains. Some of best things about owning a home have a lot more to do with personal satisfaction.
Listed Below Are Some Of Them:
· Paying the principal on a mortgage is a type of forced savings. It is possible that home prices will fall further. Yet over the long haul most home owners are likely to enjoy modest gains in value.
· Be your own landlord. The bank can only remove you if the mortgage isn't paid while a landlord can be much less dependable. Examples include deciding to sell the property or choosing to live there themselves.
· Good schools and education for your children. Family-sized rentals are harder to come by in areas with excellent public schools. Yet good schools are typically found in areas with those who own their own homes.
· Properties with personal space in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned not rented.
· Fixed rate mortgages. Unlike rent they never rise and eventually you pay them off. With mortgage rates at all time record lows, people who buy now are locking in real bargains.