5 Benefits of Buying a Home

October 2016

Buying a home is a wonderful and exciting experience, and a big step away from renting one. However, finding the right home, and then negotiating with your real estate agent to get it at a favourable price - not to mention all the legalities - can take a toll on you. Yes, the process can be a little complex, but owning a home is surely going to pay off in the long run.

This is because the positives of being a homeowner far outweigh the negatives.

Here are the pros of buying a home:

1. You Build Wealth over Time

Your home only increases in value - it builds equity and provides a nest egg for the future.

2. Provides Tax Benefits

Buying a home on a loan comes with multiple tax deductions that not only reduce your tax outgo but also help in managing your cash flows better.

3. Hedge against Inflation

Unlike other forms of investment, real estate reacts proportionately to inflation. As inflation increases, so do home values.

4. Offers a Sense of Security

Unlike other assets, the value of your home does not tend to fluctuate.

5. Decorative freedom

You can decorate your home in any way you want - none of the restrictions imposed by your landlord when you rent! It's your palace and you can change it to reflect your personality.

So there you go! Before buying a home, consider how the purchase will affect your finances and your lifestyle. And you'll be on your way to becoming a proud homeowner!

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