The Advantages of Home Ownership?
Thinking it’s time to get a home of your own?
Did you know that if you are renting through an agent, your rental history can be used to prove genuine savings when applying for a loan with some lenders. Your Zobel Lending Consultant can tell you more.
Here are some of the advantages of home ownership.
- You won’t be throwing your money away.
- With a mortgage comes a regular repayment, which over time gains you equity.
- Paying off a mortgage is one of the best ways to save large amounts of money over time.
- Inflation causes most things to increase, making regular mortgage repayments will gain you equity as your loan value drops and your house value increases.
- If you chose a fixed rate mortgage, your repayments will remain steady which increases your ability to budget for the future.
- Renting leaves you under control of a landlord with regular inspections, rent increases, renewing leases, possible evictions and regulations and rules regarding pets.
- You make the rules. The possibilities are endless when you have your own home. You can renovate, have pets, and change whatever you want.