Many people are starting to invest in purchasing property; however, some see more benefits with renting.
Each has its ups and downs, but lets look through the details to see why purchasing is usually more beneficial.
If you ask someone in their early 20’s, “Why are you renting this apartment/home/townhouse”, their main reasons are the following:
- It’s “cheaper”
- I don’t want to deal with hassle of finding a home
- I’m young. I don’t need a house
Purchasing a home does not always have to be expensive. The reason why most believe so is because all of the saving that is required before hand. Yes, you do have to put a down payment on a house, but if you save enough or if you can find a good bank, your monthly payment will be much cheaper than your apartment. Not to mention, every time you pay your mortgage it’s going toward ownership and not your landlord’s pockets.
Finding a trustworthy agent can ease the process TREMENDOUSLY. Having someone there that knows the business and the market will make you feel more at ease. Usually they don’t get paid unless you’ve found your home and are happy; so don’t be afraid to start looking!