Early summer is a time that many people look at their home and think about change. Whether you are currently renting, or if you have outgrown your current abode, now might be an ideal time to make a move. Children will soon be off for the summer holidays and moving home over the summer allows them to start in a new school in the Autumn with least hassle.
1. Capital Appreciation.
If you are thinking about your housing needs, we attach 6 reasons to buy a home this summer;
Historically, residential property has had a long-term, growth in value. In fact, homes in Ireland have increased in value by an average of in excess of 7% p.a. since the early 1970s. The 2008/2012 housing crisis has caused some to question the long-term value of housing, but even after the most recent 10 years, which included the worst recession ever in Ireland, housing, values are now back to near their peak. With employment continuing to grow, the old axiom “where there is jobs, people need houses” is very true.
Money paid for rent is money that you’ll never ever see again. But as mortgage repayments are part capital, part interest, it lets you build equity in your home. Mortgage are in effect, forced savings.
Building equity in your home is a ready-made savings plan. And when you sell, your gain is tax free. This is very handy, if you are looking to trade-up, as without the capital saved from a first home, very few people could afford a “family home”.
Unlike rent, you can fix your mortgage repayments for 5, 10 or now even up to 20 years, so that your payments don’t rise over the years. If you like certainty, buying a home, and fixing your repayments gives you just that.
The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to you and your lifestyle. You are in charge of whether you can get a family pet, not your landlord.
Remaining in one location for a couple of years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.
Call us in Global Properties now, (Cork 021 4273038) and we will help you to move on with your plans. At Global Properties we sell property fast, efficiently and hassle free.