Money Matters: Why Buying a House is Better than Renting

buying houseFor years there has been a debate on whether it is better to rent or to own a house. After all, each has its own benefits and with today’s fluctuating economy, the debate continues as to how to live comfortably and affordably.

There may be deals that can easily sway even the most hesitant of buyers. For example, in Melbourne there are house and land packages that provide interested buyers with attractive deals to purchase their dream homes. And grabbing these affordable home packages is definitely very practical, especially in a key city like Melbourne. After all, real estate is increasingly getting more and more expensive as the years go by, and it is an advantage if you have a piece of land and a home in a city that’s progressively getting more and more popular.

Indeed, owning a home is a good investment. As mentioned above, unlike a car or rented space, the value of what you purchased increase through the years. It may need upkeep now and then, but it doesn’t depreciate in value. This simply means that the money you put out at the beginning of the purchase doesn’t waste away. In fact, it doubles or even triples in value. Add to this the fact that houses can be used as collateral when getting a loan if planning to invest in another business or getting another property.

Another advantage of having a house is that you can bequeath the property to your children. A house is not something that you just live on for a moment. It can be inherited by your children and even enjoyed by your grandchildren. With proper care, a house is something that will stay with the family for a very long time.

Whether the buyer is thinking of investments or simply wants to have a house, having a place to call your own is something that will ultimately bring you comfort and safety. People after all, are rarely nomadic and at the end of the day, one would want a space to come home to, a space that’s entirely one’s own, to relax, to unwind and to enjoy the fruits of his or her labour.

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