Why Buying A Home May Be More Advantageous Than Renting

Although some people find renting a more convenient option, real estate experts still recommend home ownership because of its many advantages. Consider the benefits and risks of home buying vis-à-vis renting. Especially when you think about your retirement years, you will realize that investing in a home will be the smartest decision you will ever make in your life.

Several studies show that having your own home can indeed be beneficial in various ways such as lower chances of teenage pregnancy, better education for your children, and more annual income for your children. But these are just some of the advantages of owning a home. Here are more reasons why you should buy yours now:

1. Housing expenses are more stable with mortgage payments than rental payments.
When you buy a house, your mortgage payments are most likely to remain as they are throughout the home loan period. In contrast, rental fees usually increase each year. Especially during inflation, when prices of goods go up, people who rent are bound to lose more money than homeowners.

2. You get large tax savings.
Since mortgage payments consist mostly of property taxes and interests in the first few years, you can expect huge savings when you deduct these fees from your state income and federal income taxes-that is, if you decide to purchase your own home.

3. Home ownership allows you to consolidate your other debts.
You can do so if you need to refinance your mortgage loan and get out of debt faster. The interest on your debt consolidation can be deducted from your tax as well. You won't get this benefit from renting an apartment, house, or condo.

4. You can build equity in your own home.
When you rent, the money you pay monthly goes only to your landlord. But when you buy a home, your mortgage payments become your real estate investment. How does it happen? Generally, the value of properties increases over time. And when your property gets more value, you can earn money by selling it. Paying your mortgage loans is like investing your money for future use such as for your retirement fund or for the education of your children.

5. The house is yours!
Because you own the house, you have full control over everything that concerns it: the interior design, color of the walls, the number of guests you can accommodate, among many others. You can have as many pets as you want. You won't need to ask permission from the landlord about changing the look or remodeling the house. No one will force you out of your house or engage you in a violent altercation if you simply want to change the kitchen wall's color from white to neon green.

Remember, a home is the single biggest purchase that you might make in your life. Before you get a home, you have to know the responsibilities that go with it. The common risks involved in buying a real estate property include decreased value of the home, foreclosure, and increased expenses. Thus, weigh all the benefits and risks to be able to arrive at a wise decision.

Author Peter Jordan is a realtor with Prudential NJ Properties in Westfield New Jersey. For more information, visit http://www.livinginwestfieldnj.com 
 
To invest in Tanzania real estate you can contact Hot EMI Properties in Dar es Salaam.

What You Need to Do to Sell Your House in Tanzania Real Estate Business

We’re not supposed to judge a book by its cover, but the truth is home buyers in Tanzania real estate business do. They almost always base their decisions about a house based on how it looks. It’s important to make your home look pretty good, or you’ll end up settling for a much less check at the deal closing table. 

Here are some things you can do to ensure that your home will sell for the most money possible.

Increase Curb Appeal

If your house doesn’t look good from the street, many buyers won’t even get out of the car. Try to look at your house from a buyer’s perspective, and make sure you consider each of the following items before offering your house for sale.

• Remove anything that looks messy or doesn’t need to be in the yard, like kids’ toys, tree branches, trash cans, or stray lawn furniture.

•  If you have a pet, be extra vigilant in picking up after it while your house is on the market. There aren’t many things that will turn a buyer off faster than stepping in a pile of dog droppings.

• Trim all your trees and bushes neatly, weed the plant beds, and put down fresh mulch.

• Plant some inexpensive flowering annuals for a pop of color.

• Rent a power washer and spend an afternoon washing your home’s siding, gutters, doorways, and walkways.

• Take a close look at your front door and outside entry area. A fresh coat of paint and new hardware will go a long way towards making your home look fresh and inviting. When a real estate agent brings a buyer to your home, there’s always a moment spent waiting at the front door while the agent opens the lockbox and unlocks your door. Don’t let the buyers see spider webs and chipped paint while they’re waiting.

Beauty ISN’T Just Skin Deep

Presenting a well-maintained exterior is critical to getting the most money when you sell your house in Tanzania real estate business, but you can’t stop there. You still need to “wow” buyers after they step inside. Walk through your house, looking at it as though you were seeing it for the first time. Consider each of the following items to see if they need attention.

• ·         Attack clutter. If you don’t need it, put it away. Box up all nonessentials and store them in the garage or a storage unit. Even if your garage is stacked high with boxes, buyers understand that. They know that you’re preparing to move, and most garages look pretty much the same anyway. If the rest of your HOUSE is stacked high with personal items, that’s another matter. Many buyers will assume that your house is too small to accommodate their stuff.

•  Clean like crazy. Cleaning your house doesn’t cost much, but it can dramatically increase the amount you’ll make on the sale. Wash the windows, wipe the baseboards, and dust every horizontal surface.

• Paint. Most homes would benefit from a fresh coat of paint. Take your cue from model homes: paint everything a neutral, non-offensive color.

• Rearrange. The way you’ve had your furniture arranged for years isn’t necessarily the most appealing way. Experiment to see if moving a couch or removing a chair might make a room appear more open.

• Get rid of any odors. If you smoke or have a pet, ASSUME that your house smells like it. You may not notice it, but others will—and it can cost you thousands of dollars. Clean the carpets, change air conditioning filters, and do whatever you must to eradicate all unpleasant odors.

 

Your goal isn’t to just make your house look nice, but to plant a seed in the buyers’ minds. Let them imagine that if they lived in THIS house, their lives would be better. If they bought THIS house, it would be clean all the time, the lawn would be beautiful, and their closets would be meticulously organized.

Of course, that’s not likely to happen in real life, but you can’t help it if that’s what they IMAGINE, right? That’s the sort of thinking that allows them to justify paying more for it. And that’s exactly what you want. To get more information on how to buy a house in Tanzania real estate business contact Hot Emi Properties locacated at Kumekucha Sinza in Dar Es Salaam.