Anyone who owns a property will immediately tell you that it is one of the best decisions that they have ever made in this lifetime and it has provided them with a solid source of income and investment. The property market has been growing over the past 3 to 4 decades and as demand rises, the prices of homes have increased year-on-year. Building contractors are playing catch up when it comes to the amount of properties that are currently needed by families all across the United Kingdom and so if you have a property and you wish to rent it out, then you will have no problem whatsoever in doing that. All you have to do is to find the right tenants who take care of your property and pay the rent on time and you will certainly be on the horse’s back.
It can be a little bit scary when you apply for a mortgage for your first ever home because of the amount of paperwork and time that is involved in it. However at Ascot Mortgages, they make things so much easier and they take all of the pressure off your shoulders and they put it onto theirs. They have a wealth of experience and knowledge and many happy customers under their belt. If you are playing with the idea of purchasing a property and getting yourself onto the first rung of the property ladder then the following are just some of the benefits of buying and owning your own home.
- Minimum cost ambiguity – Interest rates are pretty low at the moment and so if you’re thinking of taking on a mortgage and buying a property, then it might be a good idea to get one where you can make a large down payment and sign up for a fixed rate loan for as long as you possibly can. This will provide you with a cost that you know exactly what is going to be every single month and this takes away all of the ambiguity of having a mortgage. This will allow you to know what your mortgage payments are going to be every single year and that helps you to plan better for the future. You are not afforded the same luxuries when you’re renting a property because every time that you have to sign a new lease, the owner may increase the price.
- A growing investment – Properties have been increasing in price over the past four decades and it doesn’t show any sign of slowing. You may have to put a little bit of hard work in at the start filling in all of the paperwork and providing the various documents that your lender will need, but at the end of it all, you’re going to have an asset that is going to be growing in value all the time.
These are only two of the reasons why everyone should be thinking about buying your own home and if you are currently renting a property, then you need to remember that you’re paying someone else’s mortgage when you could be buying your own house.