We have always been told it’s better to buy than rent. Everyone from parents, friends, banks and even the government encourages us to buy because buying a home or a property is considered a mammoth achievement in one’s life.
Owning a house or a property in GTA is still a dream for many Canadians but during COVID 19 crisis any wise person made use of this quivered situation in this market and made his/her investment cumulative for a longer-term.
Your home values grow both emotionally and economically. Remember during childhood many of us would have played the game “Monopoly” and might have joyously celebrated when we bought a new house in that game. Similarly, the same thing happens in adulthood, there is always a feeling of ecstasy.
Feeling of attainment – When you buy your own house or property, you tend to get a feeling of accomplishment.
Sense of security and peace of mind – Feeling settled in life doesn’t come when being on the rental property since you can’t claim it your own and the freedom of living in your own house it’s an indubitable feeling of cherishment.
No more rent increases – You may be comfortable with what you’re paying each month but that could change when your lease shows up for renewal, typically in six months or a year.
Standard monthly payments– A fixed-rate mortgage means you will pay the same monthly amount for principal and interest until the mortgage is paid off.
Tight door stopper on the life- With your own House, you are indeed getting a permanent address. If you have children, then you need not worry about changing schools at the discretion of your landlord’s decision. Children can build strong & lifelong friendships with other kids of their age group.
Freedom to have Pets– If you are a pet enthusiast, then your own house is indeed the safest happy place for them since there will be no restrictions from your landlord.
Imagine after a tiring day at work, winning a groundbreaking deal in business and you sit on your high-rise floor home from where could enjoy the rains while sipping hot tea in the balcony or glass of whiskey to celebrate. I would any time choose buying a humble abode than renting to make my life more cherish and Skillrealty will help you grab one such good place. Use our BUY VS RENT calculator to calculate the Long Term Benefits of Home Ownership.