Benefits of owning a house.
Benefits of owning a house.
There are many benefits of owning a house. It is a social security. A very important financial stability. The price increases over time. It can be rented out. There is very low risk involve in investment in real estate compare to other investments like stocks or gold. Buying a house can be the most important decision one makes in a life time. And after overcoming this major decision other small things fall in place by itself.
Over the years property investment has developed such a trust that everyone whether on a large scale or small is investing in real estate. And buying a house is the best of real estate. Although in the past decade there were rise and fall in property prices but still those who invested in houses are the prosperous ones.
Buying a house is an investment that increases in value over time compare to other things we buy like a car. A car decreases in value with time while a house increases in value. A house is a real asset. The houses always appreciate in price.
Property prices increases year by year. Usually property prices double in ten years. Short term price fluctuations are normal but if a house is kept for a long period of time it becomes a major part of your fortune. Most of the people who made large fortunes mad their money in real estate. If we make a list of the world’s billionaires we will find out that real estate comes at number 3 by which they made their money.
Some people rent their house for a sum and make money every month. House can also be rented in parts or portions. If a house is rented for a long period of time it makes more money than for which it was originally bought. A house bought at good price usually earns equal amount of its price in 12 to 20 years.
A home can be a guarantee for a bank loan. Usually banks lend money to people who has some solid investment in real estate. A house has burrowing power. A loan taken for a house can help you make another house.
A house also has move up power. Usually people sell their house to buy a bigger house. If person adapts this practice for a longer period of time he can increase the size of his house with every new deal he makes. There are people who will tell you stories that how he bought his first house which was 1000 feet in size but with continuous exchange with bigger and bigger houses, now he lives in a 4000 feet house. This is a practice which requires good knowledge of the property market and buying and selling at the right time of the property cycle.
Some people buy houses on installments. There are many developers who are making new housing projects where one can buy a house or apartment on installments basis. They offer house for sale in Quetta on installments. By paying installments every month a person can become the owner of a house at certain time. It’s like to become owner of the part of your house every month.
Home owners does not move much. The cost of shifting from one house to another can be too much. It also creates a lot of inconvenience and also take a lot of time. Changing locations and societies can be a lot of trouble like finding new schools for kids each time. This problem occurs in house for rent situation. To check available houses for rent click here
People take pride in home owner ship. This is one of the main reason of investing in a new house. Home owners has all the options available. Where he can paint the house the way he want. Make new construction in the house make new rooms any time they want. Garden of their choice. Buying a house gives you so much power over your property. Home ownership gives you a lot of freedom. People say that after achieving this major goal of owning a home they became more prosperous. After buying home other small things came in place by itself. After buying a home owners of the house became more attached to the society. They also start working for the development of the society like their home. Overall a house is the best asset any one can have.
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