5 REASONS TO BUY INSTEAD OF RENT

Dated: July 29 2021

Views: 73

5 Reasons to Buy Instead of Rent

 

Lock in Your Monthly Payments!

We would all love to think that property owners would reward tenants who pay their rent in a timely manner over a period of time by decreasing their monthly rent, but we know that isn’t the way the world works. Instead, rent payments continue to rise and rise. 

A fixed-rate mortgage ensures that you have a set payment amount for the duration of your mortgage. When purchasing a home the added reassurance of a set payment can provide peace of mind and allow for consistent budget planning. 

 

Make it Your Own

If you are currently renting, or have rented in the past, you may be familiar with living in a home or apartment that just isn’t your taste. Maybe it was that time you rented a house with avocado shag carpet, or the apartment you lived in that had been painted purple. The opportunity to live in a home that reflects your taste is hard to pass up. 

 

Plan for Growth

There are plenty of people who seemed to have bought in the right area at the right time and had the value of their property grow significantly, but you don’t have to depend on luck. By watching the growth and development of areas in which you would like to live you are ahead of the trend. According to the 2016 census the Towns of Trinity (+23.4%), Paradise (20.9%), Whiteway (27.3%), Witless Bay (38.7), and Holyrood (23.5%) have all experienced a population growth of 20% or more since 2011. 

 

The HST/GST Rebate

The HST or GST on a house can really add up quickly! However, if you are buying a home that was not newly constructed you may be eligible for a rebate on the HST or GST that you paid. This rebate is only available for purchase up to $450,000 where the owner is using the property as their primary residence. 

 

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Joe Fleming

Personally selling real estate since 1989. Specializing in residential, commercial, industrial, and land development. Specializing in the St. John's, Mount Pearl, and surrounding markets. Put Joe's pe....

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5 Reasons to Buy Instead of Rent Lock in Your Monthly Payments!We would all love to think that property owners would reward tenants who pay their rent in a timely manner over a period of time

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