A home is more than just a wise investment, its also an important aspect of your life. Where you live can directly affect other important factors in your life. Finding a stable home is even more important when you have a family. Research shows couples who own a home are happier.
So, do you rent or buy a home? By definition, renting is when a landlord lets you use their house in exchange for monthly payments. However, buying means total ownership. Here are 5 main reasons why you should buy a home for your family rather than renting.
You have a safe and secure place to live
Keep your family safe by buying a home at a secure place. Owning a house means you can remodel the unit to your desired safe standards. Staying in a rented house means there are limits to the renovations you would wish to install. If the house is yours, removing handrails, changing the tiles and replacing the windows won’t be a problem. You can also install other security appliances like CCTV cameras and sophisticated alarm systems.
You feel the sense of freedom
There is no quite feeling as having your family living in a permanent house. There is no fear of being kicked out by the landlord. It is your property so you and your family can have as many activities as you like. You can even go ahead to installing a Jacuzzi in your home. It is a good feeling to know that your family will always have a place to lay their back and a secure roof over their heads.
You feel accomplished and financially stable
A primary residence gives you a sense of being an achiever. As long as you don’t drai8n every coin in your name to purchase the property, you are safe. Make certain that the house you buy requires the same amount of monthly payment as you would pay the rent. Not everyone can organize themselves and manage to buy a house. The key is to find a fast and easy mortgage broker. A brilliant example is the Habito.com’s mortgage calculation tool.
You become physically and mentally healthier
Having a stable home gives room for some peace of mind. You are less stressed about upsetting the landlord. You are also able to create living space according to your favourite colours and interior designs. Living in a healthy and stable environment physically protects you mentally.
There is less stress about your living situations, which means a happier family. Single parents who own homes are reportedly more stable and stress-free.
You feel a sense of belonging to your neighbourhood
It is easy to feel out of place if everyone in your neighbourhood owns their homes while you rent. As a homeowner, you feel a part of the community. You are more confident about voicing your concerns. Renters are usually less confident about speaking out on important issues in the neighbourhood.