If you’re reading this, you’ve already been thinking of buying real estate with Theo Kefalas at 2 Percent Realty. If you’re not already on the property ladder, then here are six clear-cut reasons to hop on immediately and look for that home for sale in Okanagan.
1. Pay your own mortgage instead of someone else’s
No-one wants to rent forever, or live in their parental home for that amount of time either. The property market is generally leaning on an upward kilt so it’s best to get on the bandwagon as soon as possible and start contributing to your own future rather than someone else’s.
2. Be in Control
Renting comes with its own risks. While you may have the freedom to get up and move on whenever the lease is up, so too can your landlord, leaving you high and dry anxiously looking for the next place to settle. Or worse, rent goes up each year or your security deposit gets a hit every time you nail a hammer into the wall. Owning your own home means you know exactly where you stand, you choose when to sell and move on. No one tells you not to hang your favourite painting up, what colour the walls must be or whether you can put carpet down. You’re in control.
For the same reason, you don’t want to delay buying your first property, is why you should period. Property prices generally move in an upwardly direction. And if you want to invest in something, a property is one of the safest vehicles you can place money into. A property is bound to appreciate over time so you don’t have to worry about losing money. You are consistently building equity, which is something you can leverage down the line.
4. Competitive Rates
Homeownership products are varied and so are financial institutions and they are all competing for your business. There are many competitively priced loan products and mortgages with low-interest rates that you are in a prime position to take full advantage of. In short, the timing is good.
5. Retirement staple
There are all kinds of ways you can invest in your retirement and owning bricks and mortar is a fundamental and key way to do this. Knowing you own your place is gold when it comes to your future, not only for security but it’s also possible that you may want to downsize thereby making a tidy profit from the sale. You can use that money to invest in something else or to enjoy when you no longer want or need to work.
They say home is where the heart is but you still need a roof over your head. Choosing a home to own allows you to become rooted in a community and to involve yourself in a neighbourhood that you may see your kids or even your grandkids grow up in. So, invest in a property as well as a sense of belonging.