Why A Home Should Be Part of Your 2020 Investments
Why should a home be a part of your 2020 investments?
- Socio-economic stability
- Rates are currently more affordable
- Lots of benefits are available
- Security and Safety
A home is never an impractical idea. It is in fact, the most crucial yet essential investment one has to make. Aside from gaining satisfaction and fulfillment, a real estate property will satisfy your needs long-term. This year marks the beginning of a new decade, and it’s best to think about your 2020 investments that will be beneficial for the years ahead. Below are compelling reasons to end your hesitations and start investing a home in 2020:
Along with the rise of infrastructure and the real estate industry in the Philippines, investing for a home is a necessity to achieve economic stability in a globalizing country. 2020, along with its advancements, is an excellent time to invest in a home as the country’s investment sector remains on good stability.
Most citizens reside on rental houses which rates are constantly increasing over the years. It is a very huge burden having to pay monthly rents along with your other commodities. This is a significant setback in attaining financial stability. Whereas investing in a home means paying a mortgage for a property that you can ultimately own. This will be a very smart investment choice which could lead to financial independence and stability.
Rates are currently more affordable
There is no real estate or housing bubble in the Philippines. This situation is marked by a rapid increase in housing prices driven by increased demand and limited supply. While it is hard to predict when the prices will drastically rise, modernization threatens into the biggest housing bust years from now. Buying a home as early as now is very advantageous since a lot of bargain-priced housing is available because of foreclosures and falling prices. It also means placing your capital in a safe long-term investment which could eventually grow.
Lots of benefits are available
Homeownership offers property tax deductions that favor homeowners. Real-estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. You can also deduct the interest you pay on your mortgage from your taxable income.
Aside from this, some real estate owners have lowered their prices as they are eager to sell off houses. Some have been offering incentives to potential home buyers such as prior furnishings and warranties. Securing a good deal with a seller depends on one’s ability to qualify for a mortgage.
Lastly, you’ll obtain the benefit of securing your own place. Possessing and securing a home as early as possible is a sound financial decision. Whether you plan to keep it a personal property or resell it, homeownership is highly profitable and beneficial in the future.
Security and Safety
Lastly, 2020 is a good year to develop progress with lifelong benefits. Owning a house is one of the best investments one could make for his/her future. It offers the security of one’s wellbeing. There is no constant worry of the future as you could settle anytime. Whether you choose to live independently or raise a family, having your own property offers considerable advantages.
There is a sense of physiological and psychological comfort in living. It is the reflection of your own accomplishments which leads to fulfillment and a sense of pride.
If you’re on the lookout for a great 2020 investments, consider investing in a home. Taking that next step can be daunting, but keep in mind that buying a home will provide a multitude of long-term advantages. This simple guide has hopefully equipped you with the essential information to help guide you towards securing your own property.