Some Quotes to remember:
" Negative emotion is like an anchor, keep it moored and you'll stay put forever. Cut it loose and your ship is free to sail off and explore exotic new destination. "Here goes the saying and quiet applicable to any one fulfilling his/her dream of owning a home.
There are valid reasons people buy a home which correspond to their need and wants. Their desire moves them and depend by some reasons, these are :
7 REASONS TO OWN A HOME 1.
APPRECIATION - real state has long term , stable growth in value and
continues to increase year to year.
2.
SAVINGS - building equity in your home is ready made savings plan.
3.
EQUITY - money paid for rent is money that you'll never see again,
but mortgage payment let you built equity ownership
interest in your home.
4.
PREDICTABILITY - unlike rent, your fixed mortgage payment don't rise over
the years so your housing costs may actually decline
as you own the home longer.
5.
TAX BREAKS - you can deduct the interest you pay on your mortgage as
well as some of the cost involve in buying your home to
your own income tax return.
6.
FREEDOM - the home is yours. you can decorate any way you want it
and benefit from your investment for as long as you own the
home.
7.
STABILITY - remaining in one neighborhood for several years gives you
a chance to participate in community activities, lets you
and your family establish lasting friendship.
A short story about my friend some 22 years ago when he approach me that he
wanted to buy a home. He is married for 2 years during that time and I said go on.
After more than 3 years he and his wife finished paying the mortgage, approached
me again what is the best business to engage. I said to him to stay put and let
your money grow in the bank because the economy is unfavorable, we'll wait for a
good timing.After 7 years ,he approached me again regarding business, I told him
to research the value of his condo, if it came out double we'll sell it and buy 2 units
he's going to use 1 unit and rented the other one,so he did. Six years past- by he
learned the trick, sell the 2 units and buy 4 units in which 3 of them he leases.
Now he retired to work at the age of 46 and lived in a passive income. Nice ha!
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