There are many views about buying a home. While many bloggers and financial experts are of the opinion that investing in home does not make a good financial decision, buying home is undoubtedly a good idea especially when you are young. You may be living in a luxurious rented apartment, but it becomes a different story when you buy a home, because no rented house can give you the feeling that you enjoy by having a forever home.
Real estate price is steadily increasing every year and, therefore, it would be a wise decision if you buy your home at an early age because you have to pay more for the same type of home after few years. Secondly, homes appreciate at around 5% every year. So, if you make an Of course, you have to pay for the mortgage, property tax and there are also other costs, you get higher tax benefit than other investments when you buy a home. Moreover, buying home helps you build equity and you can get a home equity loan, if required. So, why to rent and help others pay their mortgage? In case you are selling your home in the future you can enjoy much financial gain without attracting any federal tax.
Buying home also lets you have enough freedom. You can decorate your home the way you like and can also make necessary changes based on your life style. You are also ensured about privacy as there is none to check up. Staying at a place for a long time helps to develop a very good sense of community feeling that helps your kids to have educational and social continuity.
Buying home makes your future more predictable. Why wait then? Get your own home when you are young. via businessinsider