Benefits Of Owning A House
Sick of paying rent for your home? With interest rates on home loans so low at present, paying rent can actually be more expensive than paying a mortgage if not equal to it. But there are a plethora of benefits to owning a house further to escape the rent trap. And we at ABC National have brokers that we deal with directly to help you get your finance over the line. That means you get to gain entry into the property market and finally own your own home!
You Can Always Renovate
When you have your own home, you can make the changes that you want to. From installing hooks on the walls for pictures, installing security cameras to landscaping, and renovations, you can choose to do what you like with your own home. If you feel that your bathroom needs rejuvenating or your kitchen needs renovating to suit your purposes and increase functionality, you can and a custom builder can help you achieve your vision.
Engaging with a quality custom builder such as ABC National means you can gain a rejuvenation of your bathroom which you may have overlooked for a while. It may be time to increase the airflow, change the vanity unit, and cabinetry, and re-do the shower and/or bath to suit your needs. You can choose a classic, old-world, modern, or rustic theme, and jazz it up to be aesthetically pleasing.
Further to the bathroom, you can increase the efficiency of your kitchen whether you seek more storage space, upgraded appliances or more space to cook. If you’re trying to open up the kitchen to the dining area, a kitchen renovation with a custom builder can achieve this and all you need to do is a factor in your budget and a list or sketch of your ideas.
No Landlords to Deal With!
Another benefit of owning your own home is that there are no landlords to deal with. You are free to manage the property yourself and that means making any changes, small or large, and getting things maintained or repaired within a timely manner if needed.
You might decide to invest in a solar system to run the home off solar energy and owning your own home means you can select to do this. You can choose between grid-connected or off-the-grid or hybrid solar systems and choose to be even more environmentally-friendly and engage in cost savings by installing water tanks at your property.
For security, you might like to install a WiFi or wired security camera system or alarm system and without a landlord, you don’t need to seek permission to do so. Owning your own home means you can choose to do it and choose the system you want and the installer.
With low-interest rates at a record of 2.25%, this means home loans are cheaper and making mortgage repayments more affordable for you. Even if you have to take into account water and Council rates, it still beats renting which is dead money. Furthermore, if it is your first home, you can be eligible for the first home owner’s grant if you meet the criteria.
Instead of paying off someone else’s property for them through paying rent, why not invest in your own home? Property tends to double in value every ten years or so and over time your property value will go up so it will be a truly worthwhile investment to make, particularly if you plan to sell in years to come.
Borrowing money for a home loan can be a stressful period of time and can create anxiety relating to the fact that you are borrowing a lot of money, however, it doesn’t have to be. With the right help, you can gain assistance with obtaining your home loan and finance for your own home. From dealing with the big four banks to dealing with other credit lenders, you can gain a vast amount of information first by researching with lenders who would be the most appropriate to go through. Additionally, ABC National has brokers that we deal with directly to help you attain the finance you need for owning your own home. That’s a benefit right there.
Furthermore, an added benefit to owning a house is that you build up equity in your home. You can potentially leverage on your equity which is the value of which you own the property through payments and can use this to invest in another property or with re-drawing on your loan.
Owning your own home doesn’t just mean reaping the financial rewards of your first home with a custom builder or the fact that you don’t have a landlord to deal with; it’s more than that. Renting means you can be subject to inspections, owners wanting to move in or sell, and other aspects that make living in a rental property unstable. The benefit of owning a house means you can gain stability; you choose how long you live there for, who lives there, and if you decide to sell, it’s on your terms. When you retire, you don’t want to still be paying rent; you want to be able to own your own house and that is an added benefit.
Create Your Dream Home
The biggest benefit of owning a house is that you can create your dream home if you wish. You can customize your home if using a custom builder and if you’ve purchased an existing home, you can renovate your bathroom, kitchen, or even add a bedroom or extra living space. You might need further space as your household grows and rather than having to pack up and move if you’re renting, you can potentially add an extension to your home and cater for your entire household. Using a custom builder such as ABC National means you gain the knowledge and expertise of a quality building company to help you customize your dream home.