Five Reasons to Buy a Home Instead of Renting

Buying a home after the 2008 credit bubble burst has become a rare occurrence, and sociologists are quick to conclude that the millennial generation does not have the motivation to invest in big purchases - its own home and car have been displaced as symbols of prestige by other factors such as student loans paid.

Nowadays, however, things are different - ten years after the beginning of the financial crisis, the global economy has stabilized, and unemployment in Europe is currently at its lowest levels since the last decade. This also gives banks an incentive to be more generous with loans - the first reason to consider buying a new home.

1. You pay rent - you earn your own property

A property is without a doubt an expensive investment and a decision that is not made in a day - especially if you do not have the necessary amount to buy it. However, in the long run, paying for a home will affect your personal finances in the same way as paying off a loan. With one small but significant difference - your home is yours.

2. Freedom of your creativity

A home is a real home only when we feel free to be completely ourselves. Buying will give you this freedom, without bargaining with the owners for the color of the walls, furniture with a sentimental value to them or your right to live with your pet. A real home is the place where you can mark your child's growth on the door frame annually, which in turn can paint the wallpaper with your first masterpiece, subjected solely to your art criticism. You will also not be concerned about unforeseen visits by real homeowners or surprising inspections of its value. This is where the best part comes from:

3. Security

The saying "my home is my fortress" is no accident. The home is a haven where we have the security of our own space. When renting a home, there is always a risk that the landlord thinks, decides to sell the property, wants to lease it to another person, or wants to move in on his own, leaving you with a short time to collect your belongings and find another place. Owning a home is not only an investment for your budget, but also for your health and your psyche.

4. Heritage

Buying a home should be seen as a long-term investment, and if you believe in the Chinese saying, "Create a home, plant a tree, raise a child," then it certainly has a significant role to play in the meaning of life. The home will remain after you to give your children security.

5. "For Rent"

Beyond all the sentimental reasons to choose to buy a home, there is one pragmatic one - you can turn it into an additional source of income. Whether you rent it out to regular tenants or prefer to rent it out to tourists for a short time, for example, the property can bring you assets to pay off on its own.