A fairly large part of people believe that rental housing has its significant advantages. They are certainly right and this is actually so. If we talk about the benefits of renting, the first thing that usually comes to mind is, of course, lower living expenses. On average, renting an apartment costs about $ 1,500-2,200 per month, including all utility bills. Obviously, for those who just came to live in Canada and do not have solid money brought with them, the idea of renting a home is perhaps the only right way. It is necessary to get financially on your feet in a new life and the less you have to pay for living the first time, the easier it is to rise. It’s quite difficult to find a job right away, and if you managed to do it, then the income in the beginning is usually not large. More often than not, only one of the spouses is able to find a job, and living with the whole family is not easy at all. It is clear that in this situation, talking about buying real estate is simply meaningless, and this is where renting is really for the good. At the same time, the idea of living in a large apartment building also has its advantages. Usually people try to settle in apartment buildings where people of the same nationality live or closer to people who are native speakers of the same language. It is much more convenient to communicate with compatriots, especially if the success in English is not yet great.
A good building often has a pool, sauna or gym, which is not bad at all. There is no need to go far and especially pay for such services separately. Shops are also usually located side by side. There is no doubt that living in a rented apartment gives you the opportunity to get your benefits.
Now let’s talk about the pros of their own housing. At the beginning of the article, we touched on the fact that the advantage of rented housing is that it is cheaper and costs about 1500-2200 dollars per month. To be absolutely precise, it would be more accurate to say it was worth it. It is known that the cost of rent is growing steadily. Most of my real estate transactions last year were related to people who were tired of paying an ever-increasing rent. They shared what they were lucky and they did not pay the biggest money for housing. As soon as they move out of the rented apartment, the next incoming tenant will already pay 1800 – 2500 dollars, and not 1500 dollars at all, as it was before.
Some consumers are preoccupied with higher rents for their own housing and do not believe advertising, which claims that the costs in either case may be the same. When buying a property with a minimum installment, the monthly payment will be higher and this is true. Otherwise it can not be. Nobody would rent a house if they could live in their own house for the same money. It will be possible to equalize monthly payments only if you make more than your own money when buying a home (down payment), you buy very cheap housing, or you buy real estate, some of which you will lease. So, the truth is that for your own corner you will almost always have to pay more. Why, then, at the first opportunity, people try to buy their own housing? I will name alternately the reasons that you probably know yourself.
No matter how cheap the rental is, the fact remains that every month you pay hard-earned money that leaves you irrevocably. Gradually, the tenant has a certain sense of the futility of such costs. Many people who rent an apartment constantly pronounce the same phrase: “We do not want to throw money away.” Frankly, I do not always agree that you throw them away. You simply pay for your stay on those conditions that are still available to you. In the end, you need to start somewhere. Another thing is that it is really impossible to return at least part of the money spent. That is why, sooner or later, a person comes to the idea that it is better to pay more, but for his own.
Having bought a house, from the first day you begin to pay a loan for real estate, which sooner or later will become your private property. In a sense, repaying a loan can be thought of as buying out a house from a bank in parts. Having bought housing with a small contribution, we live in a house where only a small part of it belongs directly to us, say, five percent. Just for fun, let’s imagine these 5% as the value of the porch of the house, since the rest of the house actually belongs to the bank. However, making payment by payment, you can mentally paint yourself a picture of how one brick of the wall of a house is recaptured after another, and they gradually become yours. That’s what the money is now going to. Figuratively speaking, from time to time, you can estimate the number of your own and enemy bricks in the wall and rejoice that your share is gradually growing. Even if you decide to sell the house before you finish paying the loan, you can take the purchased bricks with you. No, we don’t have to break anything. Just anyone who wants your walls to serve him from now on will have to pay the owner, that is, you. This is the big difference compared to renting. Try the same thing there. Leaving the rented housing after three or four years of living in it, even a couple of bricks to take with you will not succeed. Since I was drawn to comparisons, here’s another one of them.
Many parents take notes on the walls and bindings of doors as their children grow. Every year, serifs are higher and higher. Likewise, with each successive mortgage payment, your home is growing slowly but surely.
Real estate loan
Some people say that, having received a loan, at first not much is paid to repay it. Indeed, the reality is that, taking a loan, the first years you pay only in the interest of the bank. Nevertheless, this is the way any mortgage loan works, and whether you take it now or in three years will not change anything for you. One way or another, everyone will still have to go the same way. Sometimes people say that rented housing less connects them, that is, living is based on the principle: “We want – we live, we want – we will eat.” One can object to this statement. You can only move out of the apartment if you have previously notified the condominium of the corporation 30 days in advance – 1 Month notice. Check your contract and make sure that a standard contract almost always provides for such a condition. At the same time, a good house is sometimes sold in a few days. Moreover, you, as its owner, no one can indicate in what time frame to leave it. You can move out even in a week.
It is also good to mention the feeling of ownership. I often have to show the real estate for sale in which the tenants live, and not the owners themselves. It must be admitted that the condition and appearance of such housing is always somewhat worse. The point, of course, is not that such tenants are completely sloppy people, not at all. It’s just that nothing morally connects them with the place in which they live. As they say, the soul does not lie to him. Housing is temporary and you do not really want to take care of it. Tomorrow a person will move to his own home and the picture will change immediately. Recognize that there is not the slightest soul movement to do anything in a rented apartment. Many people are neat in nature and tidy up any housing they live in. I am sure that this is done anyway without much zeal and only for my own self-esteem. Investing in additional facilities is also of little use. All that is invested will remain and nothing can be taken with you. Yes, and what special can be done in an apartment where there is nowhere even to unfold imagination. So it turns out that there is no desire to do anything, since you spend your own money and time, and in the end all this will get to someone else. There is nothing new in what was said, we are only talking about the elementary feeling of the owner-owner. “Mine is mine.” Even if you decide to change something slightly in the form of housing, do not forget that you will have to ask the owner for permission to carry out such work. Otherwise, at the time of the congress, the company has the right to oblige you to bring the apartment in proper shape, that is, in the very state one that it had before your check-in. That’s when the housing will be my own, then it is then that I would like to attach my hands to it properly.
I can imagine with what a feeling of warm gratitude these lines are read by the male half of readers. Especially those who were washed down by their wives with constant demands to make some kind of repair in the apartment. Now you can already tell your wife that you don’t just don’t want to do anything, not at all, just, you see, wife, there are very serious reasons against such a repair. At least, maybe someone will be able to hold out to their own home, and there, you see, you are lucky and you will find real estate in which you don’t have to do anything. When renting all the time there is a feeling that your money is not just going away, but also going to someone’s good. It is not bad that there is at least some sense from them, although I would still like to benefit from them myself. If you rent a home from a corporation, then this is a business in which money is made from residents. If you rent a house from a private person, then you are allowed to live in it for the fact that you pay a mortgage instead of the owner. By the way, in the first case with the condominium corporation, the situation is about the same. Most businesses take credit. If you look, then in the skyscraper, everyone living in it, together pay a loan for the company. Foreign profit is not a thing of being angry about this, if there is no way to buy real estate yet. The above information is just a reminder to those who can already buy a house, but for some reason does not. In this case, the willingness to pay someone else’s credit instead of their own becomes a thing obscure.
There is another extreme. Many people want to as soon as possible refuse to rent a house and quickly buy their own home, even if there is no material readiness for such an act. I personally do not belong to supporters of the purchase of real estate at all costs. Buying a house is a good idea, but you need to do it so that, as one of my clients put it, not to be in debt. If you gave your best when buying to the end and were left without a penny of money, then this is not the biggest trouble. Many of us have to push ourselves to make a home purchase. The most important and important thing is to cope with future monthly payments. Those who have not calculated their capabilities often end up sleepless nights in search of a solution than to pay for the house next month. I want you to sleep soundly at night. So, buying a house is an absolutely true idea, provided that you acquire what you are able to contain.
Many say that taking credit on your shoulders is the same as falling into financial dependence. You are absolutely right and this is one hundred percent, heavy and lengthy bondage. Why, then, are so many people meaningfully taking it upon themselves? Because such a heavy burden ultimately benefits you. You are ready to pay more, respectively, forcing yourself to work harder to eventually live in better conditions. The second reason. Having paid a loan, there is an opportunity to look back, see what has been done for many years and see firsthand the results. “Yes, I worked a lot and here is a solid embodiment of my work – my house, which I can touch with my own hands at any moment.” Unfortunately, having lived all his life in a rented apartment, there is especially nothing to touch at the end of the road. All that they managed to earn was living in a nursing home. I have never been to them, but they say that in Canada they are very good. I don’t even know why, but I still don’t want to live in old age in one of them. Probably affected by domestic mentality. We still associate this place with the landfill of life.
By the way, about the greater payment for their own housing. More often than not, we are a little lazy and work just enough to get enough. Simply put, if you need to cover the payment of renting an apartment and other everyday expenses, then we earn so much. If you need to bear big expenses, then we will pull ourselves up and will earn more. Paying for your own home forces you to raise your inner bar and either look for a more paid job or work even harder.
A beautiful house is not only great joy, but also pride, a kind of good feeling of owning a chic item. It’s nice when relatives, friends come for a housewarming party or just visit and say something like: “Wow!”. The main thing is that it just does not sound like “Ooooops”. But seriously speaking, it’s really great when loved ones sincerely rejoice for you, approve the purchase and from their praises it becomes even warmer in your heart. When they arrive, even if they are visiting, their parents and straight away immediately to a new house. They admire the beautiful houses their children and grandchildren live in. Sometimes, however, they ask: “Why do you have three bathrooms in the house?” Unfortunately, sometimes, the joy of relatives is replaced by mild sadness. “Here we have lived a life and have not seen anything like that.” Whatever it was, the final emotions are still usually positive. “Once they live well here, everything turned out to be right, and therefore the decision with immigration, in general, was correct.” So they, the elderly, are calmer. “It would be good for the children and grandchildren.” If your parents live with you here in Canada, then with the purchase of a house there is an opportunity to finally provide them with a decent, comfortable old age without living in poverty.
And more about emotions. Starting from the first day, owning a home is associated in a person’s mind with such words as a hearth, shelter, and, if you like, even a fortress. No wonder the saying goes: “In your house, the walls are warm.” With every next family event in the house new memories settle in, and the longer you live in it, the more feelings you connect with your home. Memories of life in a skyscraper are also good, but they are more connected with people with whom I managed to make friends during my stay in it.
Age, age, age. Unfortunately, every day we certainly do not become younger. I already wrote about the age factor of real estate purchase and I will repeat about this again. If you are thirty or more, then the idea of buying a property can be taken for yourself as a wish. If you are forty years old or more, then it’s almost as a requirement. If you want to pay for your own house before old age and you are already over fifty, then buying a property should be regarded as an order for yourself.
There is another option that gives your own housing – more rights to privacy. When the work is finally found, then gradually the joy of receiving it is replaced by hard everyday work, after which I want to relax more. To do this, surrounded by a large number of neighbors, is sometimes quite difficult. It is much easier to isolate yourself from the noisy outside world in your own corner, especially when it comes to living in a detached house.