Are you a renter interested in buying a home or a homeowner wondering whether renting makes more sense at this point in your life?
If yes, then it is about time to evaluate and know all the relative costs, benefits, and drawbacks of owning versus renting your home.
- Renting is Dead Money
Its very clear that once the money is spent on rent, then probably that money is never going to be seen again.
- Buying is future investment
If you go for a buying option, then surely it will serve you as a perfect future investment.
- Renting does not build equity
One of the biggest problems or disadvantage with renting is that, it does not build any kind of equity or financial benefits for your future.
- Safety and sustainability
Safety comes first in every regards. Therefore, if you buy and build your own house then you can easily fit all your desired priority list in your house, which is not possible in the case of a rented house.
- Rent money versus mortgage payments
In several cases, the amount you pay for the mortgage is as equal to that of your renting bill, then why not buy your own property.
- Building grants
Depending on your location and state policy, you can easily apply for various government grants while buying a home.
- Create your dream home
Building your own home is an opportunity to build a home according to your preference and builders like coral homes allow its clients to customize the existing plans according to their desire and preferences.
So here comes an infographic which will give you an idea about the benefits of buying your own property.
Source: Coral Homes
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