LIVING IN IBADAN #NIGERIA – LAND & PROPERTY PRICES IN IBADAN (REAL ESTATE IN IBADAN)
- April 11, 2021
- Real Estate Business
Real estate in #Ibadan is the next thing. The land mass of the…
Did you know that the average homeowners net worth is more than 40 times greater than those who pay rent? It’s true. Today, I’m going in-depth giving you the top reasons why you should buy a house & why you need to buy a home right now! This will be the MOST In-Depth Video on Why You NEED to Buy a Home. In today’s video I’m going to give you the top 10 reasons you should buy a house.
Utah Realtor: Ty Wilde aka Ty The Real Estate Guy
Wise Choice R.E.
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Here’s my list of the 10 most important reasons why you need to buy a home right now.
The #1 reason you need to buy a home right now is because home prices in most parts of the country are expected to continue to increase through 2021.
#2 These super low mortgage interest rates. The interest rate charged by the bank or lender is just as important as what you pay for a house. When mortgage rates are low, like we are seeing today, it’s time to buy a home. If you think you’re ready to buy a house, talk to a lender to find out how much home you can afford to buy & what your monthly payment will be.
#3 Owning a home will give you a sweet retirement & it could make your rich. It’s true, owning a home can easily make you wealthy. Most of us need to pay monthly for a place to live, so you might as well apply that payment toward paying off a house. The sooner you buy a home, the sooner you will pay it off. After 30 yrs of living in the same house, you will most likely no longer have a mortgage payment. After 30 yrs of paying rent, you’ll still be paying rent.
#4 A monthly mortgage payment is often less expensive or the same as paying rent. Even if your mortgage payment is slightly higher than what it would cost to pay rent, you would still save money by purchasing a home because the federal government offers tax incentives to homeowners.
#5 It’s a great investment. A lot of people say that purchasing a house is a forced saving account & for most people buying a house is the best financial decision they will ever make. When you buy a home, each month when you make that payment, you’re paying of your loan little by little. But, you’re also building equity.
#6 Improvements & additions. As a renter, you don’t have the option to change the paint colors or add things to the place that you’re renting out. Even if your landlord is cool with it, why would you invest your time or money into improving someone else’s house. As a homeowner, you have the right & the privilege of painting your home & you can upgrade or change anything.
#7 Long lasting relationships. This is one of the top benefits of owning a home & living in a neighborhood. Apartments, condos & townhomes, have high turnover. So, just when you’re starting to get close to someone, they move. This is particularly hard on kids to see their friend move away over & over again. When you purchase a home, you’re also buying stability for yourself & your family.
#8 Pride. Owning a home is the American Dream! When you’re doing things that will better your life, today & in the future you gain pride.
#9 Ownership has benefits. I can’t put into words how amazing it is to own a home. To have a place of your own.
#10 Equity. One of my favorite words. After 15+ years of owning multiple homes, even though the 2007 recession, I can honestly say that I’ll be able to retire in style on equity alone. How cool is that? This goes back to what I was saying earlier, buy a home as fast as you can so you can start building equity. Then if possible, purchase a few rental properties. If you follow the advice in my 3-10 RE investing strategy video, you will be wealthy. During the recession, home prices decreased, but over time home prices increase. When you buy a home, you’re leveraging your money. Homes values double about every 10 years.A $400,000 home could be worth $800,000 after 10 years. When you pay your home off after 30 years, it could easily be worth more than $3 million. How crazy is that?