When you are tired of dealing with negligent landlords and receiving rent increase notifications, you may start to wonder if it would not be better to become your own proprietor by buying your own piece of real estate in St John’s, NL.
Buying real estate in St John’s has a lot of advantages over renting an apartment, townhouse, or single family home. There are many benefits, including:
- It is an investment – The rent money you pay is gone. That is not the case when you pay off a mortgage. The more you pay, the quicker the property is paid off. It will eventually belong to you. Even if you sell the house before the loan has been repaid, you can expect a nice return on your investment.
- Decorative changes and remodeling – When you rent, your hands are tied. Even when you are willing to pay to have a wall removed or replace a window, your landlord may refuse. When you own your own piece of real estate in St John’s you can do whatever suits your needs. You can upgrade as often as you please.
- Stability – Living in your own home, you never have to worry about finding a notice in your mailbox that you have to move out. When renting, that possibility is quite real.
- Payments – With a fixed mortgage, you will always know exactly how much you have to pay every month. You can mail in checks or have the money automatically withdrawn from your bank account. This is quite different when you rent. Your landlord has the right to raise your rent. If you no longer can afford the payments, you will have to find cheaper accommodations. That is not always as easy as it sounds.
Buying real estate in St John’s will help to build equity, as home values appreciate. If you have any doubts, simply contact a local realtor for more information.