Many people would rather rent a house than buy one. The underlying factor considered in this case is basically ‘renting is cheaper’ sort of ideology. However, researches on Real Estate show that house renting is the most expensive of all, especially due to the fact that you will be paying an increasing amount of money every month for the rest of your life in rentals.
On the other hand, buying entails enduring the ‘pain’ of huge chunks of money at once and enjoying life thereafter as an owner – and even rent it out if you so wish. You can then use reputable organizations that get the hassle out of owning rental property.
Here now are five reasons you should consider buying that house than rent it in your prime time:
1.You can ramp up energy efficiency. In a rental house, the much efficiency you can add is changing bulbs, light systems and security issues. Further than that, there is an owner, not you. But if you buy the house, it is easier to even install the newest solar panels in town and make any further and major changes that would effectively serve you in a long term.
2.You can customize your space. A homeowner can wake up one morning and pull down a whole kitchen wall and turn it into dining space. He or she can redo the bathroom or extend his living room to satisfaction. On a rental house, you are not allowed to try that. The simplest way to extend your living room is to relocate to a larger yet another rental house.
3. Homeowners buy less furniture. People who move a lot buy a lot of furniture to suit their variety of houses. Homeowners buy less because they only serve their homes and stick around hence save good money for other projects.
4. No landlord can kick you out. Renters face unexpected eviction notices if their landlords suddenly decide to sell the home or he suddenly realizes that the apartment is illegally constructed. This is the time Nairobi City County askaris will be coming after him or red mark the house for demolition. Homeowners are their own landlords and work with pace to do their mortgage.
5. You don’t have to speak to a landlord, ever again. Landlords can take ages to fix a faulty tap. They would call boring meeting to solicit funds to mend a cracking washroom door or simply refuse to do so. If you’re the homeowner, then you’re in charge. This means you have to be home when the plumber calls, but the plumber reports to you first.
Consider buying your own home and save millions.