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It might take some budgeting and almost certainly some time but for many people, it is worth pursuing and thinking about. More freedom Owning your own home will give you a lot more freedom when it comes to designing the decor and you’ll also be a lot more likely to want to improve a property you actually own. Many who rent, even if they plan to live in the house/ apartment for a long time, won’t really want to spend money decorating or buying new fixtures because they will have to leave their hard work behind. When you own your own home you will want to make it a representation of you. This will make you more comfortable and happier. Renting can also sometimes have a lot of restrictions about what you can and can’t do which you won’t have to worry about with ownership. Best of all, you can take on a furry best friend – something many landlords don’t allow. Long-term value One of the biggest criticisms of renting a property is that it’s wasted money. When you are buying your own property, you’re getting a valuable asset in return. It might take years for you to pay off your mortgage but once you own your home it will be fully yours. You could then sell it on or leave it as an inheritance - the value you get is something renting simply can’t compete with. A feeling of pride Owning a property of any kind will give you a real sense of accomplishment and pride! Saving up to buy a house and then paying off your mortgage takes dedication, perseverance, and planning. Yes, it is hard work but you THE BENEFITS OF OWNING YOUR OWN HOME! can reap so many benefits once it’s done. It also gives you something to focus your energy on and work towards. If you are ever having a tough day just thinking about the home you are working towards can be enough to give you a little pick-me-up and help you stay positive even in hard times. Social benefits The social benefits of home ownership are not often mentioned but they are worth talking about. When you buy a home you can say goodbye to the constant moving renting brings and you’ll feel more like a member of your local community/ neighbourhood. Home ownership will allow you to build better relationships with people in your local area. You will be able to build longlasting friendships and if you are buying a property near your work it can even help when it comes to other aspects of your life like job opportunities and after work networking. Greater savings Buying a house is an expensive endeavour, but it can also actually help save you money as well! I’m not just talking about the monetary benefits that come once the mortgage is paid off. In some cases (and it is likely more common than you might think) buying a house could work out cheaper than renting. If you can save up for a larger deposit and choose the most suitable mortgage deal then you could easily end up paying less a month then you would while renting. Once you gain ownership, you start to see the benefits flood in, and it all becomes worth the saving and hard work to get there n


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