Real Estate Editorial

I realize buying a home as a first time homebuyer can be scary and intimidating at times, but once you jump over that first hurdle it’s the best feeling in the world. If you are renting and you are still on the fence about taking the leap, here are some reasons why you should.

1) Building Equity: 1 second after you purchase your house you have gained equity. Over time scheduled mortgage payments along with the probability of appreciation have all contributed to the gain of equity in your home. Now what has rent done for you, well you got to live in a place you don’t like at an over inflated price, while lining the pockets of someone else. What should be your equity, is someone else’s.

2) Proud to be an Owner: There is no other feeling like buying your first house. You feel a great sense of pride in your accomplishments and it’s pretty cool telling people you’re a homeowner. There is nobody to tell you, you can’t paint the walls or change the carpets. You don’t have to fret over those nail holes in the walls because you decided to hang some of your favourite art, and the best part is you get the increased value for any improvements you make.

3) You can stay as long as you want: The great thing about owning is you don’t have to worry about anyone kicking you out of your place, well unless you don’t pay your mortgage, I’m talking about some crazy landlord kicking you out for any number of reasons. Another great thing about owning is if you wish you can stabilize your payments over 5 to 10 years. No unexpected rent hikes from greedy landlords!

4) Helps with your future: With a mortgage at some point in your life you will pay it off, not so when renting, that seems to never end. Your disposable income increases, your standard of living rises and you know if all else goes down the tube, you will have a place to live. You also have the option to scale up and scale down as you please. With gained equity you can use it to buy a larger more expensive house or a less expensive condo, there are some great options there.

That’s it, that is all I have for now. If you have some more reasons I would love to hear them.

Real Estate, real-estate, Canadian Real Estate, Home Buying, Home-Buying, renting, housing, home