Many people are currently finding it incredibly difficult to get themselves onto the first rung of the property ladder and so they continue to rent the property and they are essentially just giving their money to someone else so that they can buy the property. It is fair to say that rental costs have risen dramatically over the past number of years and the Australian property market is definitely a seller’s market. In many cases, the amount of rent that you pay is more than what it would be if you managed to get a mortgage and make payments on that.
This is why it makes far more sense to look into building your own home rather than continuing to rent. All you need to do is to find a plot of land and then speak to professional home builders in Canberra. They will give you an idea of what it is going to cost to build the home of your dreams and they will also tell you about how realistic your expectations are. Hopefully this has encouraged you to start exploring the notion of building your own home and the following are some of the benefits of doing so.
- You own it – Unlike renting, you will have something to show at the end of the month when you hand over your hard-earned cash to your mortgage provider. You have the peace of mind knowing that you are investing in your future and in 25 to 30 years from now, this property will belong to you and so it is a valuable nest egg for your future.
- It increases in value – Handing over your rental payments to your landlord at the end of every month is not adding any value to your portfolio, but building your own home and owning it allows it to grow in value over the years. Properties have been increasing in price over the past 30 to 40 years and there is no sign of that changing any time soon.
- You decide – It’s likely that you have an idea of what you want your dream home to look like and when you talk to your home builder, they can make your dream a reality. Trying to find a property that meet your expectations and that has already been built is an extremely hard to ask and so this is why it is better to build your own.
Hopefully these three reasons have lit a fire under you and have encouraged you to look into building your own property for you and your family’s future.