Many people hesitate before buying a home because they’re thinking about the mortgage costs. Buying a home can be a big commitment because you’ll be paying for it for the next 15-25 years (depending on the length of your mortgage). And even if you’re going to pay for the house up front, you’ll still have to shell out some money in terms of maintenance.
Responsibilities That Go with Homeownership
If you’re planning to live in the house, then you’ll know when maintenance-related issues come up. For example, if there’s something wrong with the boiler or the stove or the heating, then you’ll know right away because you’ll be using these things.
But if you’re investing in the home, then you may not know immediately when something goes wrong, only when you go to check out the condition of the house. Or if you’re renting it out, then you’ll know when your tenants tell you about it. Either way, it can be difficult to keep up with the maintenance of a home.
This is why many people prefer to keep renting apartments rather than buying a condo or a house. They don’t want to have the responsibility involved in buying a place.
Freedoms That Come with Homeownership
There are also certain pros when it comes to buying. You get to make your own rules in a place which you own. So there is a lot more freedom when you buy a home.
So if, for example, you want to knock down a wall and make one big room out of your kitchen and your living room, then you can do so. If you’d like to extend the windows, this is also possible. If you want to install a Jacuzzi, there’s no one who can tell you no. If you’d like to have a koi pond or fire pit in your backyard, well, the world is your oyster. If you want to have pets, then you don’t need to consult anyone about whether it’s ok or not.
Advantages of Buying a Home in Pre-Construction
When you buy a property in pre-construction, you can get a home at a lower price and also have some input in terms of construction. Plus, if you’re not quite ready for the responsibility of a home now but you think you might be in a couple of years, then a home in pre-construction might be right for you.