If you’re currently renting a property then it has most likely at least crossed your mind at some point that you might benefit from buying your own home. People will keep telling you that it’s the more sensible option financially, and you know it has many benefits in terms of the freedom it gives you, but you need to be in the right time of your life and the right circumstances too. How do you know if you are?
Read on to discover some of the indicators that it may be time for you to buy a place of your own…
Many people will rent properties when they’re young because it keeps them flexible and ensures they can move home quickly if they need to. However, if you’re currently living life in the fast lane in a big city, then you will eventually find that it starts to take it out of you and that you get tired of managing a rented property.
If you start to think how nice it would be to ‘move somewhere quiet’ and to have a big comfortable sofa to collapse into after work and a nice garden to get fresh air in… then I hate to say it but you’re turning old. Time to settle down!
You Want to Start a Family
If you’re currently living with your partner, then a time will come when you start to think about kids and about generally starting a family. Now is as good a time as any to get a home, as it will give your children much more stability and much more space to move around it.
Likewise if you’re thinking of getting married, then buying a home first might be a good move. This way you will have gotten the big ‘important’ expense out of the way, meaning that you can then afford to splash out on the wedding while remaining guilt-free.
You Have Plans…
Another good thing about owning your own real estate is that it will allow you to do things you can’t in a rented flat. Now this might not have bothered you so much when it just meant you couldn’t hang the pictures you wanted, but once you start thinking about more exciting projects: like creating your own home office or gym for instance, then you might decide that it’s too limiting. If you have some kind of big dream project in mind for your home, then buying your own property is a must.
You’ve Had a Windfall
If you’re fortunate enough to have a large amount of money sitting in your bank account, then it’s important that you don’t just leave it there, but invest it in something in order to keep it safe and grow it. Buying property is one of the very best ways to do this and will ensure that you don’t lose your money and that you really get to benefit from the purchase.
So, is it time for you to buy your own home?
This post has been contributed by Jim Carter, an employee at Mark Richards Real Estate which specializes in home renovation and design services. He works hard and often indulges in golf and fishing during his leisure time.
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