Right now is the best time to buy a house, especially if you foresee a lengthy stay in your current location. Not only is buying a home a good investment that will increase your net worth in the following years, at present, housing loan interest rates are at an all time low. This means that the average renter can purchase a home with a monthly mortgage lower than renting an apartment or even possibly a house.
When choosing a home, you have the freedom to select from various layouts as well as neighborhoods. Comparing this with renting out an apartment, locations are limited and space is a consideration with many families. Another asset of home ownership is being the “king” or the “queen” of your castle. All too often, there are regulations that come with renting i.e. no pets allowed, noise policy, repair issues, room sharing rules, etc.
The exhilaration that comes when receiving the keys to your new home is indescribable. Knowing that the monthly payments are going towards ownership instead of someone else’s pockets instills a feeling of security. Not only will this be the home you currently live in, but also the home in which your loved ones will enjoy in the many years to come.