Buying a home is a big decision to make. There are many reasons why people buy their very own homes but often times this is because their friends or family have encouraged them to do so. However, since owning a home is a huge milestone for an individual, it is important that one should be able to make the choice of buying due to his own free will and not because of the influence of other people. So right now, maybe you are still wondering if it is right for you to buy a home for yourself. It’s okay to doubt. Reservations are common to mankind. However, you should also carefully understand why you would need to buy a house so you could make rightful judgment.
Here are some of the reasons why you should buy a home.
- Pride of Ownership. There is no better feeling than having a house to your name. Something that you can call your own. A house isn’t just a form of shelter. It is a sanctuary. A place where you keep you most valuable possessions. It is where you grow as a person, where your most intimate moments happen. This is the reason why buying a home is an important accomplishment. It would give you the feeling of independence, knowing that you can now survive on your own without the aid of your parents, without the fear of getting kicked out.
- As the years pass by, the value of your property increases. While appreciation may fluctuate, sometimes up sometimes down, real estate has always been consistent in appreciation.
- Mortgage Interest Deductions. Tax rates favor homeowners. This would mean that as long as your mortgage balance is smaller than the price of the home, you would be able to deduct the mortgage interest in tax returns.
- Mortgage Reduction Builds Equity. Part of your monthly payment goes to the principal balance of your loan and by doing so, your obligation is reduced. Amortization is like this: there is a slight increase in the principal portion of your principal and interest payment every month. This would mean that it is lowest on the first payment and highest on the last.
If you are looking for property for sale & rent in Hua Hin, make sure that you bear in mind all these considerations before choosing to buy a property for your own.