Friday, 4 August 2017

The property ladder and why people get on it

Moving into the real estate market is a big decision regardless of what stage you are at in your life. As you are making such a big commitment, it is worth taking the time to consider what the implications will be for you are your lifestyle. But there are a number of positive factors that you should know about that are all worth looking at in closer detail. So, here are five of the main reasons why people decide that they want to invest in property! 

To get out of renting

Instead of contributing to other people’s mortgage payments, you could be channelling this money into paying for your own instead. There are all kinds of schemes out there designed to help first time buyers. And many people find that their mortgage repayments are actually cheaper than their rent, so this is another positive factor to consider. Plus, the overall satisfaction of having a place to call your own rather than living in someone else’s house is high.

To make an investment

As the price of real estate continues to rise year on year, many people see property as an investment that it just makes sense to make. Once you get one house and you firmly establish yourself on the property ladder, you have more of an option to look at more investment properties and you can start generating even more revenue. Ultimately, property is one of the safest investments that you can make.

To provide security

When you own a property, you have the security of knowing that it is yours and you are out of the unstable renting situation. Plus, you don’t have the constant worry of whether your monthly payments will go up. And when you have this level of security, you feel much more comfortable turning the place into your home rather than constantly viewing it a temporary living situation.

To give a sense of community

When you have bought a house and have committed to staying in that property for a reasonable length of time, you start to feel much more a part of the neighbourhood. This feeling of permanence means that you can form lasting friendships, join community organisations and contribute to the overall livability of the area.

To give freedom to personalise

When you are living in a rental place, you have to always get permission if you want to make any changes. When you own a property, you have much more freedom to do as you choose and adapt the place to your personal tastes. Many people view a home as a constant work in progress, so you also have the option of doing major renovations jobs like extensions and conversions.

These are just five reasons why people get on the property ladder which you can factor into your decision making. Ultimately though, it is all about the pride of ownership, flexibility to do what you want with the place and sense of making a good investment! 

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