Skip directly to content

Things to consider when buying a house

on Thu, 04/24/2014 - 15:47

Buying a house is a very important decision and is recommended for anyone who has an income to spare. Being a homeowner gives you a lot of advantages over someone who rents a house. Being a home owner ensures that you do not have to keep paying rent each time the month comes to a close. Living on rent is very expensive. You do not have full control of how long you will live in the house, and at times you will be forced to live with neighbors you may not actually like. Besides that you will be subject to the rules laid down by the landlord in a bid to ensure that law and order is maintained in the area you are living. Cumulatively, the amount of rent you will be paying throughout a period of three to four years will have amounted to a significant quantity enough to buy you a new house.

Aside from these, there are other reasons why the buying of a house is recommended. Take the case of you having a family to take care of. This means that aside from the usual expenses you are used to, there will be additional expenses in the form of school fees, healthcare, entertainment and any other expense that come as a result of you having a family. If you have to live on rent, then this will be very tricky given that these expenses will keep fluctuation from time to time. In this case, having a place you can call your own will save you a lot of headache as well as provide an avenue to save on a lot of that expense. If you have extra space, you can convert it into a store or sublet it to supplement your current income, thus transforming you from a tenant to a landlord. 

Selling a house | Local Conveyancing 

Even if you are sufficiently endowed, and that you can comfortably rent a house for as long as you want, there are those times that perhaps you have to move house as a result of a conflict with your land lord or neighbors. Moving house is stressful. 

But then as you prepare to buy yourself a house, you should think about the various alternatives that give you the opportunity to own a house; the first are where you buy the home for cash. This is by far the easiest since you exchange cash for house, it is recommended because you get to own the house instantly, the other includes mortgaging the house which in retrospect will give you a chance to pay for the house over a long period of time. It is more like rent only this time you will be the owner at the end of the payment period.