Many people have dreamt of owning their own homes but when they are given the opportunity to do so, there are quite a lot who would still choose to rent. But you should know that paying monthly rent can become quite a burden especially if you have regular income. For this reason, it would be better to own a house instead.
Mostly, the decision to own a house is driven by emotions and persuasion from family and friends. However, if you do feel the need to find reasons why you should own property instead of renting, here are some of them.
- Emotional Satisfaction and Stability. Emotions play a great role in the foundation of a home. You can’t really consider a house ‘home’ if your emotions aren’t tied to it. By owning your own house, you would be able to root your emotions into your house and therefore make it your home. People who rent often feel shiftless, like they are wanderers. With homeownership however, you would feel more rooted.
- Financial Stability. The problem with rent is that not only can it become burdensome, but as the years turn, rent would only seem to increase and in the long run, that can be considered wasteful. Wit homeownership, as long as you have a fixed-rate mortgage, you are guaranteed to get a fixed mortgage rate for most of your loan life.
- With rent, you may never be given complete privacy as the owners would still feel entitled to check up on you and their property. Owning your own house, however, can give you all the privacy that you need.
- Homeownership provides you the opportunity to get your money back by building equity. With every payment you make, you are building equity. It is a general rule that if you stay in your property for over five to seven years, the costs of acquiring the property may have already been offset equity and the increased housing value.
- Greater Control. If you buy a Pattaya house for sale, you are guaranteed great control over the house. You can decorate it in the way you want, add improvements and even sell it when the time comes.