Becoming a homeowner: an excellent decision!
Are you thinking about becoming a homeowner? Know that in addition to providing you with numerous financial benefits, buying a home can improve your quality of life. Not to mention, becoming a homeowner brings great freedom, a strong sense of pride, and peace of mind. A priceless gain!
A home that suits you
Being a homeowner means, above all, living in a house that reflects your tastes and lifestyle.
Is your family growing, and do you want to give your children a backyard or a playroom in the basement? In addition to being a great long-term investment, buying a property will allow you to create such spaces. Furthermore, if you choose a condominium or a multiplex, you’ll save time on maintenance in the former case, and benefit from a supplemental income in the latter.
Building equity
Paying for a house is a bit like saving long-term. Instead of paying rent to someone else, your monthly mortgage payments finance your asset and allow you to build considerable equity, which you can recover once the payments are complete.
A profitable investment!
Across Canada, real estate investments have significantly appreciated over the last decade. In Quebec, the median price of single-family homes has almost doubled in the past eight years, from $110,000 in 2002 to $209,500 in 2010. This represents an average appreciation of nearly 8% per year.
Fixed payments
Tired of rent increases? Unlike renters, who must deal with such fluctuations, you can now, as a homeowner, benefit from fixed payments that will protect you from potential interest rate increases, depending on the type of mortgage you choose.
A new lifestyle
Finally, let your creativity run free and decorate your home without worrying about the restrictions imposed on renters! All decoration or renovation work will benefit you directly. Moreover, no one will be able to force you to leave your home, nor even enter for inspections or maintenance purposes.
