Locked-in monthly expenses
Renting and moving constantly can be so exhausting, especially if you’re moving all your
furniture with you every time which can be quite costly not to mention rising rental costs in most major cities.
Being a homeowner, your monthly costs are generally fixed for the long term with fixed mortgage rates. Also homeowners generally move from home to home less frequently than renters eliminating moving costs.
Building your nest egg
The majority of people in the world have their net worth tied into their home’s equity. In general, the price of real estate rise over time increasing your equity in the property.
One of the benefits of investing in real estate is its illiquidity. Real estate is not easily sold from one day to the next as a stock would be for example therefore people cannot spend any profits they made on the home leading to saving the money instead of spending it.
Creating a Tailor-Made Environment
A renter is unlikely to invest the time or money it would take to upgrade their property or redecorate as at the end any added value to the property will be enjoyed by the owner and not the renter. One of the benefits of owning your home is that you are able to create an environment that both makes you feel comfortable and is unique to your style, as well as adds value to the property with additions such as an extra bathroom or bedroom.
When purchasing a home, you are not just investing in a property, you are investing yourself into a community and lifestyle. Your neighbors become your friends, you raise your family in a safe community you know well, and you take an interest in keeping your neighbourhood clean and a nice place to live.
If you’re interested in buying your first or next property in Panama, House Hunters Panama has a diverse portfolio
of properties for every lifestyle. Give us a call at +507-830-6020 or write us at email@example.com and one of the sales specialists will contact you and help you find your dream home!