5 reasons why owning a house is rewarding
You saved all your hard-earned money up, then you took it all and put it down as a deposit on your first house. I tip my hat to you, what you have just done is one of the hardest, most adult things you will do in your life. And it is immensely satisfying. People always talk about how you should be saving for a house or that you need to be getting on the housing market soon. And yeah, they might be right. It can be really stressful. From saving the money to dealing with mortgage companies who really don’t care about you, I mean just look at recently, with the Cenlar class-action lawsuit, for example.
What people often forget to do, though, is to tell you how rewarding actually owning a house can be. You hear people moaning about mortgage rates and high payments. You hear people talking about house prices. Yet no one talks about how awesome it is to be sat in a property you own.
So, I’ve compiled a shortlist of reasons why owning a house can be really rewarding.
You can decorate however you want
Most of us have come from renting a place or living at home with our parents. When you are in either of those situations, you do not own the property, which means you need permission to decorate the house how you want. When you own your property though, you can decorate it however you want, whenever you want. So, if the urge strikes you at 3 o’clock in the morning to knock down a wall to make a bigger kitchen, go ahead, you’ve earned the right to do that!
Your house could go up in value
With the way inflation works, 90% of the time, when you come to sell your home, it will be worth more than you paid for it. How awesome is that? Simply owning your property means that your money has actually been invested. You don’t have to do anything at all, and you could leave your house exactly as it is for 10 years. At the end of those 10 years, you might decide to sell it. The chances are that it is worth a considerable amount more then you paid for it, easy money, right?
Owning a house looks good on your credit file
Responsibly looking after your mortgage and making sure you pay on time can give you a massive boost in trust from credit companies. This means you will get better rates on loans, car finance, and credit cards. You can also leverage your own property to borrow larger sums of money for your business or a large purchase.
So, there you have it, I know its tough to save the money to buy a house. So, if you have already done it, I congratulate you. If you aren’t quite there yet, I hope this article has shone some light on how rewarding homeownership can be.