There are many reasons why you should consider jumping into the real estate market and buying a home.
Below is a list of nine reasons why you should seriously consider it.
Why contribute to someones mortgage payments when you could be paying off your own? With the current market increase in rent it can sometimes be cheaper to own than it is to rent and there is no fear of your mortgage payments suddenly increasing.
You don’t have to worry about your house being sold out from under you to out-of-province investors. If renting and faced with this scenario, you could find yourself faced with an unreasonable increase to your rent, thereby leaving you potentially homeless or too poor to eat. These increases could continue indefinitely so the investors can make more money or so that you will feel forced to leave and they can turn your building into a condominium.
The price of real estate continues to increase every year, therefore purchasing real estate is one of the safest long-term investments a person can make. If you had the choice between putting money towards a new car or a new house, a house should win every time as it will appreciate in value over the years whereas a car does the opposite. Once you own one house and build some equity you may also be in a financial position to buy another and rent one out.
Right now we have some great interest rates which will help you get your foot on the first rung of home ownership. It is a great time to get into the market and lock into a really good interest rate and build equity.
One of the biggest reasons people buy properties is the pride of saying they own something. Even if it is a little starter home or apartment style condo, it is yours and you can do with it as you please, and for that, a person should be proud, as ownership is an accomplishment.
If you own your own house, you don’t ever have to worry about the owners checking up on you, since you are the owner! You will gain much more independence and privacy when you have your own property.
One of the best things about owning a home is that you are building equity, which gives you more freedom financially as you can access a home equity loan. You may then borrow against the equity you have built in your home for a wide variety of reasons including home improvements, paying for school for your children, medical reasons, or even starting your own business. Check with your lender, as these vary from one to the next.
You are free to do what you want in your own home, whether you want to paint the walls in pink and black zebra or put carpet on the ceiling (not recommended of course!) You have the freedom to express yourself and your personal tastes and change the house to suit your needs. You can hang as many pictures as you want and do renovations as you please. Just keep in mind that when you are ready to sell your home, not everyone may like what you do.
Owning a house gives you a feeling of belonging in that neighborhood and gives you the sense of putting down roots and getting established. There are also many neighborhood groups that you can become involved in, and if you have children it may be of benefit for schools and friends.
My family has been living in Kelowna since the 1980’s.
This is really important for you as a buyer when selecting the various neighborhoods in Kelowna or the amenities they provide nearby; as a seller it is equally important to make sure you're getting the best price for your home.
I have done just about every real estate deal possible with Kelowna real estate alongside my clients. Majority of my clients are home buyers. But I also have helped my clients to purchase rental properties, commercial land and buildings, farms and even helped clients with purchasing rent to own properties. I have lots of experience in new home construction as well. I am also affiliated with an amazing group of realtors at Sage Executive Group Real Estate. We are not a franchise, but locally born and 60 plus members strong. I now enjoy helping my clients with all of their real estate needs.
I speak English and Punjabi fluently. My team is multi-lingual and have members that also speak Hindi and Mandarin .