Which dreams did you have as a youngster - occupation, holidays,
children, house, marriage? Becoming an adult and have our own place to
live in is a dream that is not so clear-cut nowadays. Living in your
own house does not necessarily mean owning it, it could also be rented.
You could buy your own property and what you are paying out goes
towards owning a house, unlike renting. Whether buying your house or
renting, they have their own its plus points as well as disadvantages.
Pay Rent to a Landlord
This is one of the more easier ways of moving into your own house. You browse around, like the look of it, you agree terms with a landlord, it's your new home. You move in and you live there for as long as you sign the tenancy for. Obviously you are going to have to hand over the rent each month and any security deposit straight away. Most agreements say the landlord is liable for repairs, so you don't even have to think about them. Even refurbishing the home is paid by the person who owns the property. The biggest downside, is probably the fact that the place is not your own and it is very likely that you will have to move out at the end of the day. Often you do not have the rights of when you have to vacate the property. Many individuals feel some kind of a bond to the property, get used to it and are sorry to leave. Certainly if you are one of those individuals that enjoying moving, then this would be an bonus point for you. In simple terms, if your rent period expires and you want to move, you just do, you do not have to sell the house and so on. But with any good thing, there is always a negative point, one of the big ones with renting is you can't do want you want with the property and would have to ask permission that could or could not be given.
Real Estate Purchase
To start off with it may be hard. One of the big hardships is that large loan you may have had to take out which could take years to pay off. Once you have bought the house it doesn't end there, what about decorating it to your own personal style? Including the mortgage charges, you have to pay fees for the house, all the improvement and running costs and also home insurance. Nevertheless at the end of the day you are now the title owner. You can decorate it or alter it in anyway, it's yours to do with as you please. You can do want you want to the building, within reason, you don't have to get consent to change it. Be wary, though, sometimes repairs may be very expensive even if they seem to be insignificant in the beginning. Moving properties is not going to be easy compared to moving from rented places. When you move house often you have to rent the home out or sell it. The property could take a while to sell or rent out, specially if the market conditions are not very good. However, as a realtor, who specializes in one of the most astonishing areas in Toronto - Bridle Path - I believe with home ownership comes a special feeling!
Renting accommodation is potentially the best option for you if you like to wander and don't intend to stay in one place very long. The financial outlay of buying a house takes at minimum a couple of years to start paying off. In the beginning, it seems like you only have to pay out with no benefits.
Pay Rent to a Landlord
This is one of the more easier ways of moving into your own house. You browse around, like the look of it, you agree terms with a landlord, it's your new home. You move in and you live there for as long as you sign the tenancy for. Obviously you are going to have to hand over the rent each month and any security deposit straight away. Most agreements say the landlord is liable for repairs, so you don't even have to think about them. Even refurbishing the home is paid by the person who owns the property. The biggest downside, is probably the fact that the place is not your own and it is very likely that you will have to move out at the end of the day. Often you do not have the rights of when you have to vacate the property. Many individuals feel some kind of a bond to the property, get used to it and are sorry to leave. Certainly if you are one of those individuals that enjoying moving, then this would be an bonus point for you. In simple terms, if your rent period expires and you want to move, you just do, you do not have to sell the house and so on. But with any good thing, there is always a negative point, one of the big ones with renting is you can't do want you want with the property and would have to ask permission that could or could not be given.
Real Estate Purchase
To start off with it may be hard. One of the big hardships is that large loan you may have had to take out which could take years to pay off. Once you have bought the house it doesn't end there, what about decorating it to your own personal style? Including the mortgage charges, you have to pay fees for the house, all the improvement and running costs and also home insurance. Nevertheless at the end of the day you are now the title owner. You can decorate it or alter it in anyway, it's yours to do with as you please. You can do want you want to the building, within reason, you don't have to get consent to change it. Be wary, though, sometimes repairs may be very expensive even if they seem to be insignificant in the beginning. Moving properties is not going to be easy compared to moving from rented places. When you move house often you have to rent the home out or sell it. The property could take a while to sell or rent out, specially if the market conditions are not very good. However, as a realtor, who specializes in one of the most astonishing areas in Toronto - Bridle Path - I believe with home ownership comes a special feeling!
Renting accommodation is potentially the best option for you if you like to wander and don't intend to stay in one place very long. The financial outlay of buying a house takes at minimum a couple of years to start paying off. In the beginning, it seems like you only have to pay out with no benefits.