The Perks of Having Your Own Home Owning a home is not a small thing. You need to make sure you know what you are doing before purchasing one. After all, it is a huge investment and only if you intend spending a minimum of 5-7 years you may go ahead and make the commitment. Given below are some of the benefits to owning a home than renting an apartment: You are the owner of the place: Do I need to say anything more? When you possess the place you can do whatever you want, whenever you want, however you want. For instance, you can keep the dog and ask for no approvals, paint the walls red, grow the plants you always wanted, add a basement, etc. In short, you need absolutely no consent from a certain landlord because you are the sole owner, the one who manages everything. You could be paying less: When you buy a home you make the payments and you are set. This way, it could actually be paying less when compared to renting an apartment. For all you know, you could be saving a few hundred Dirham’s every month. What's more, if things work out well and you can get a fixed-rate credit, then the payments will be consistent all the way through the lifetime of the loan. Security, space and a lot more: When you own a home you automatically have a sense of comfort, independence, privacy, and of course, safety. A place all for yourself is definitely satisfying. Raise your family and be a part of your community with little to no restrictions. Also, since it is your own place you can always pass it down to your children and grandchildren for their safety and security. Purchase a home and gain long term benefits: You will purchase a place only if you intend keeping it for a good number of years, right? Thus, when you have the house on
long term basis, over a period of time, it certainly gives you steady returns that are impervious to the unstable stock market changes. Build equity: Owning a home is the best way to be financially secure and independent. When you stay in the same place for a longer period, the chances of building equity too increases over a period of time. Additionally, improvements you make in and around the house only help reinforce the value of your home. Buying a home is probably going to be the most vital, and the most expensive, investment you will be making. So, make sure you give it ample amount of time and consideration. Make sure that you have weighed your pros and cons well before you make the decision that could change your life.