It was a lot easier for your parents and your grandparents to be able to buy their properties because back then, properties were a lot more affordable and many people were continuing to rent rather than to buy. It is well known that property is an asset that tends to grow all the time and if the past 30 years is anything to go by then property will continue to rise in price. This means that if you stall and you keep putting off the purchase of your first property then prices will continue to creep up and you may find yourself unable to get into the market in the first place.
Luckily for you, prices at the moment have taken a slight dip and so this provides you with the perfect opportunity to take advantage of a house for sale in Pattaya Thailand. You need to strike now while the iron is hot and talk to your local lender about getting yourself a mortgage and getting yourself on the property ladder. If you are still a little bit reluctant to commit yourself to the purchase of a property then maybe the following benefits of doing it now rather than waiting until later can help you to make a smarter financial decision for you and your family.
- Favourable mortgage rates – Mortgage rates seem to be edging up a little and so now would be the perfect time to commit yourself to a fixed rate mortgage over as longer period that you can, so that you can take advantage and get warranty home protection as well. You keep giving your money to your landlord every single month and you could be using this money to help put down a deposit on a new property and your first new home.
- Take advantage of prices – Prices also seem to be edging down a little bit in the first time in a number of decades and so it makes perfect sense that you would want to get in now while prices are lower. The market is sure to return and if you decided to sell the property then it’s likely that you would make a healthy profit on your purchase.
- Paying rent is futile – As was briefly mentioned before, you are handing over your hard-earned cash to your landlord instead of spending it on a well deserved vacation and you have nothing to show for it. You will never own the property and you can even add to it or do any renovations because it doesn’t belong to you and your landlord strictly forbids it. This will never be a property that you can call your home and this is why you need to get your very own property for you and your other family members.
If you are in your younger years then it makes a lot more sense to purchase a property now because it means that you will pay it off a lot earlier and you can start to enjoy retirement before everyone else does. You should always look at the purchase of property as something that is with you for the long-term and it will provide you with a very healthy nest egg as you move into your retirement years.