7 Reasons why Owning a Home is better than Renting

Picture this; a well-manicured playground where kids are playing, you as the father, are seated outside, absorbing the much-needed sunlight going through your favorite newspaper with a glass of juice to quench your thirst by the table. It is your off day, and you have to be with family. Your better half is somewhere in the house sorting through the mess of the week, making sure everyone is sorted for the coming week. They will step out and be by your side for a heart to heart as the sun sets on the horizon.

We at Cheriez Properties cherish that quality family time, making sure our homes are family-oriented and cater fully to each family’s needs accordingly. Royal Gates Kitengela provides houses for sale that are affordable and able to cater to your family’s needs.

Renting a home for your family can be enticing and convenient, but in the long run, it becomes expensive and limiting in some ways compared to owning your home. Owning your own home gives you a chance to breathe your personality into it and make it into your desired home.

As such, here are seven reasons why owning your home is more significant compared to renting one:

  1. Privacy

Your home gives you a chance to lead your life in privacy compared to renting one where everyone is everywhere, and everything is shared with everyone. In this sense, it is an opportunity to be creative with the available space such that even in this pandemic era, you can have a home office. Privacy comes with peace of mind. It allows you to do your own thing without worrying how it will augur with the neighbors.

2. Great investment

Compared to other big purchases like a car, a home appreciates over time, offering you an investment in a way. Something you will not get while renting. Renting becomes a liability in this sense as owning becomes an asset that may also pass down to your children.

3. Freedom to remake and remodel the home

When you own a home, you have an opportunity in your hands to create a home that you have always desired without consulting anyone or awaiting approval from somebody else. The changes you make may be as simple as painting the whole house fresh or remodeling all the bathrooms in the house hence increasing the property’s value. Renting limits, any changes you make may later eat into your deposit since the owner will want you to leave their house in the condition you found it.

4. Tax reliefs

In the early years of repayment, the monthly interest rates will be deducted from your tax returns at the end of the fiscal year, which may be remitted to your account upon request by you as the owner of the property. For more information on this, get in touch with your accountant.

5. Creating equity

Equity is the value of your property when you subtract the debt you pay to own the property. This means that the longer you hold the home, the more mortgage you will pay and increase the property’s equity in general. This buildup of equity goes on as years pass by.

6. Pride of ownership

Owning your home gives you that sense of pride and, at the same time offering peace of mind. It also gives you a chance to be part of the community among other homeowners within your vicinity. It gives you a chance to know local service providers like firefighters, garbage collectors, plumbers, and many more. This sense of community gives you a chance to make tangible changes that improve the quality of life by providing ideas and airing your opinions.

7. Stability

Your own home gives you stability. You understand that the house will always be your home unless you decide. You will not come back after work one day, and the landlord announces that you have one month to vacate the premises since he wants to make changes. It gives you a home ground where you unwind after a long day, make memories and raise your kids as you enjoy family time together.

Owning one of the Royal Gates houses for sale gives you a chance at many financing options available, and you can own a house with just a 20% deposit. This is a step towards you owning your home.

These and several other reasons that you will learn as you embark on a journey to own your dream home are the advantages of owning a home rather than renting. Cheriez Properties is more than happy to help you on the journey of owning your own home, making your dream come true.

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