Do you have doubts whether to buy or to rent?
Get to know the advantages of buying a house!
Buying a house is a big responsibility and you probably feel more secure renting. At first sight, buying a house can seem risky but I can assure you that it brings many advantages and in general terms, is the best option.
In this post we will give you 7 reasons that explain why buying is better than renting:
- It’s a good moment. The real estate market is showing important signs of recovery. Taking into consideration the drop in the interest rates and in the prices of housing, right now, buying is more attractive than renting and in many cases can even imply a saving. You must take into account that the monthly charge of a mortgage may be lower than the monthly charge of a rent.
According to the official newspaper, Expansion, if the rental exceeds five years experts consider buying is more profitable than renting.
- It´s an investment. A house can be a big source of money in the future. It can help you save for an elder age, it can be left as heritage and can also be rented or sold if necessary.
- Save energy. Buying a house can be a good moment to save energy. Small changes such as new windows that isolate better can give you a good surprise when the bills arrive. Now that it’s yours, it can be as efficient as you want it to be.
- Avoid unexpected events. During a rental, there may be situations that you can’t control. If the owner suddenly decides to sell the house, you may find yourself in a difficult position.
- Enjoy steady monthly payments. Opposite to a rental, where the owner can decide to raise the prices, during a mortgage you know exactly what you have to pay every month. It´s best to have these things under control!
- Buying forces saving. When buying a house you are saving in the long run. With each payment of the mortgage, you are increasing your real estate patrimony and that today is a saving tomorrow.
- Majorca is a safe bet. Who doesn’t want to live in Majorca? Enjoy the tranquillity and good weather, the sea and its beautiful beaches, towns and villages that are just like paintings and a city centre full of surprises. What else can you ask for?
For all these reasons, buying a house in Majorca is a good option and can offer more advantages that renting.
However, one thing does not go against the other and before buying you need to take time to think about your situation. If buying completely escapes your possibilities renting, for the moment, may be a better option.
Nova and its team will be delighted to hand you the best advice and guide you in the right direction. You can count on us!