From a very young age, many of us have dreams about having a home of our own and we have a picture in our minds what IT is going to look like both inside and outside. Our parents and grandparents have always told us that we should always make sure that we have a roof over our heads and when we have, life becomes a lot easier. Getting yourself onto the property ladder is a lot easier said than done and now that banks and other lending institutions are looking for a significant deposit to be put down first, it has made the whole mortgage procedure very frustrating indeed.
Many people typically go to the banks and building societies on the high street and this is where they come up against the numerous pieces of red tape and many hurdles that have to be climbed over in order to be even considered for a mortgage application. The important thing to remember is that there are other institutions out there that can offer home loans in Brisbane and so you should do your homework and find out exactly who they are and the terms and conditions that they offer. You can’t keep on renting a property because buying makes a lot more sense for the following reasons.
- You decide what lies ahead – When you continue to rent the home that you currently living in, then you are living at the whim of your landlord and they can change their mind of how much rent that they want to charge at any given time and they can sell the property right out from under you and there is nothing that you can do. When you take steps to purchase your own property and get a home loan for such, then you can start to plan for your future and what lies ahead for you and your family.
- A nice little nest egg – The thing to remember is that in many cases you’re paying a higher rent than the mortgage payment on a property and so at the end of it all, you have absolutely nothing to show for all of your rental payments. This isn’t the case when you purchase your own home because this is an investment in your future and should you decide to retire and move to another country, then you can always sell your property for a significant profit.
Hopefully now you have an appreciation for the benefits of purchasing a home instead of continuing to rent the one that you are currently residing in.