Settling Down and Buying Your Own Home

You agree on everything, start planning big projects for both of you, you are ready to compromise on everything, including the remote control. You even decided to adopt a dog to prepare yourselves for taking care of children. You finally found someone you could live with for the rest of your life, now what? It’s time to take the next big step in your relationship.

Nowadays, getting your own house is getting easier with the help of home loans, offered in fixed-rate and variable-rate interest, although which of the two you get depends on your situation. The fixed-rate interest maintains a determined interest regardless of the market situation while variable-rate interest changes depending on the market situation. Big financial companies, including NPBS, Australia’s largest building society, now offers lower interest and both flexibility on both options. You could even get lower interest and save on variable rate home loans.

There are a lot of benefit on settling in your own home, but mostly you get the pleasure of not living with your in-laws. Here are some of the reasons you should consider getting your own home:

You get a place you can call your own. You have your own independence, security, and most importantly, privacy. You no longer have to think about the in-laws, roommates, or any other annoyance because you’ll be living independently with the person you love. You could do anything with your own home, you could paint it whatever color you want. Always wanted an exotic pet tarantula? Now you can get one, as long as your partner agree – that is. You will have a freedom you never had with your current apartment [or your parent’s home].

It is cheaper than your current place. If you are living in an apartment, getting a home of your own is cheaper. There are multitudes of financial companies offering low interest rates on home loans, such as Newcastle Permanent. What’s better is that you pay to own the home, not just to live in it. In the long run, getting your own home is cheaper that renting an apartment. In Australia, people who own homes are financially better off than people who just rent. You would be saving a lot of money which you could spend with your family, perhaps enough to buy a new car or furniture for the house.

It is an investment. Since the price of a home continually rises, getting one as soon as now is a good investment. You would be able to secure a good life of your children, in case something happen. It’s also a good way to build on your equity, a powerful financial asset, enabling you to buy more properties and finance businesses.

You’ll be able to pay lower taxes. Homeowners are given various tax benefits, depending on where on Australia your home is located. Depreciation and maintenance cost can be deducted to the tax you pay each year when you efile. You could use this extra money to pay for the things that matters.

At the end of the day, the best advantage of getting your own home is that you could live with the person you love for the rest of your life.

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