Everyone dreams of having their own home, it gives them a feeling of security and the sense of ownership gives them pride. However, if you are debating on whether to buy a home or not, then you can consider the following options.
Renting vs Buying
Buying a home may seem like a smart decision for some people and then for some others, it wouldn't be. What category do you belong to - the one who likes to buy or the one who prefers renting? Both has its pros and cons. For example, if your job requires that you have to live in one place for a few years and then move to another place, then naturally you wouldn't want to buy a home. On other hand, if you have a secured job and you wish to settle down, then buying would be wiser. If you plan to live in the home for more than 5 years, then buy it. Of course, you may have to choose another location if you cannot handle the present neighbors.
Reasons to Buy
You can buy a house if you:
· Are committed to living in the area for a very long time
· Like to make changes to the house without worrying about landlords
· Like tax deductions for first time home buyers and vacation home owners
· Want capital gain exclusion, especially if you have lived in the home for two years
· Want eligibility for home equity loans
Should I buy before marriage or starting a relationship?
It would always be safe to buy a home when you are seriously committed to each other or married. If you are living together with your partner and you buy a joint property, your mortgage will be tied together with your partner and it could be disastrous if you decide to end the relationship. Getting off from the mortgage or getting your partner's name off it can be a trying task. The complications are always greater when you are single than married.
If I'm not married should I put my common law on tile?
A common law partner can be a spouse and in Canada, spousal support must be paid to spouse. So if you are not married and have an arrangement of living together, then you will be under obligation to give support to spouse. Of course, it also depends on factors like your income, your assets, your spouse's income and assets and so on.
Should I make an offer if I have a home to sell?
In order to avoid bad situations and to make sure your home is sold at the market rate, it would be better to hire a realtor who knows the area quite well. Hiring a realtor belonging to another town may not help you sell the house. Make your offer only with the realtor's help.
Jody Workman is an expert Realtor in Century 21 Foothills Lethbridge with 15 years of real estate experience that you can trust. Whether buying or selling Jody understands what his clients are looking for and works tirelessly for them. Buying a house via Century 21 can save you time and money as well they will negotiate on your behalf. They can find you the best specials. If your desire to own a home is based on to create stability, keeping control over your living situation, building asset and investing for your future, just go for it Lethbridge is the best choice. Make your life simple and comfortable by choosing Homes in Lethbridge, be in safe hands! Please feel free to contact us or call for further details.
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