Why Buying a Home Is a Sound Decision
Many people wonder why buy a home instead of continuing to live in a rental. If you are one of those people, you have come to the right place. A house is one of the biggest investments that a person makes throughout their life. A home is much more than four walls and a roof over your head. It provides you with security and safety when times get tough, evokes sentiments, and offers comfort after a tiring day. Keep reading to learn the four reasons to buy a house:
1. Pride of Ownership
One of the most common reasons if you’re wondering why buy a home is the pride of ownership that comes with it. When a person uses their life savings to purchase a home, not only do they feel proud of themselves, but they get peace of mind and a sense of security and stability in their life. This gives them the energy and motivation that they need to work towards their goals.
Furthermore, owning the house gives you the freedom to turn on the music whenever you want, paint the walls in whatever colour you like, and make renovations according to your desires.
2. Tax Benefits on Mortgage
When you mortgage your house, the interest you pay on the loan is deducted from your taxable income. In fact, new homeowners tend to get greater tax benefits on mortgages. The newer the loan, the higher the interest, the greater the tax break. Therefore, buying a home also provides you with many future tax benefits.
3. Building Equity
Equity can be defined as the amount of assets that you own. It increases if the market value of your property appreciates and when you put down the home loan. Simply put, while the money you pay in the form of rent is something you will never see again, mortgage payments allow you to build wealth over time.
4. Financial Stability
When you rent a house, your landlord has the right to increase the rental rate every time you renew your lease. To compare, when you get a fixed-rate mortgage for buying an investment property in Congo, your monthly payments will not change. While the cost of utilities and groceries might rise, the cost of your house won’t.
Find Forever Homes in Congo!
If you are buying a house to rent out, Muluza can help you in finding a property that suits your budget and fits your needs. Our team of property buyers agent in Congo have the experience and a well-connected network that can make your search easier. From booking an investment property to the final transfer, our professionals will assist you with everything. Click here to view our extensive list of forever homes in Congo, or reach out to us today!
