This is an important decision, and the two sides of the coin have their advantages and disadvantages. I want to share some of my views with you.
The advantages of owning a home
Having your own home is something that many people strive especially for those who think a family. You get a sense of freedom and security, as the house is yours and you are free to do what you want. You are free to cut and decorate your house to your taste.
One of the advantages of owning a home is that it will be a great investment tool. Think of it as investing in real estate, but only that you live in it. The government also has all kinds of tax exemptions and deductions for homeowners.
The biggest advantage of your own home and renting is that your monthly payments are not "lost". What I mean is that if you own a home, the monthly mortgage payment is used to pay off your house. If you rent a house to the monthly payments, the owners' pockets.
Another interesting thing is, if you own a home, your credit rating increases a lot, so that they can get in a position to better loan at a lower interest rate.
Disadvantages of owning a home
There are some disadvantages to possess a house. For example, you are responsible for the accidents and injuries on your property. Get can cover a home insurance policy for such cases to compensate. However, there is a cost.
They are also cause for damage to the property of the neighbors if the cause comes from you or your property. An example might be a house fire and spread to the neighbor's house be damaging their property. In this case, you are required to pay for the damage.
Wear is part of owning a home. For example, can rust water pipes window must rebuilding or garage door is broken. Occasionally it is necessary to spend money for the maintenance of your home.
Your mortgage must be paid on time and so your insurance. Therefore, a toll to take on its financial obligations. Just make sure that you plan your mortgage payments properly loans.
Although there are several, if proprietary tax exemptions and deductibles of a house, you still have to pay property taxes each year.
As you can see, owning a home requires financial obligations. Make sure before you make a plan in advance.
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