Owning a home has been made as a rite of passage that most people desire. Owning a home has more privileges than disadvantages. Increasing your own sustainability, stop moving, gaining control over your living space, stabilizing your housing cost, it being an investment social benefits and gaining equity are some of the benefits of owning a home. The extra cost that comes with paying rent is removed when one owns a home and you are able to stabilize your housing cost, since utilities such as electricity, water also need to be paid. For gaining control of your living space, one can use as much space as they want and not feel attacked or guilty. Through home improvements and adjustments, home value increases tremendously. The value of homes is increased significantly as it is resulted from the power of gaining control of your living space.
Sustainability is obtained from owning a home since they are able to save for their future generation. Investment and equity are directly related to each other. Based on mortgage loan and payments, the principal balance paid or the percentage of the home already owned is known as the equity.
Money deposited in the bank is more similar to the balance principal paid as it can be used and reused. Investment and gaining of equity are related as homes appreciate in value as time progresses. Home owners are known to build long lasting friendships and relationships with the community around including the neighbors. Through having a foundation in a certain community, opportunities are realized.
There are several reasons as to why people sell their homes. One of the reason is if the house is too small and this could be due to increase in family size. As personal relationships … Read More..Read More →