Home is where the heart is. There’s great pride that comes with buying a home. It’s an investment most people make before they are forty or before they retire. In Boston over the past 12 months, the housing market for real estate sales has outperformed that of the usually strong rental market. So why are homes for sale in Boston becoming more popular than Boston apartments?
Here’s a few reasons why:
- The yard is all yours
For those working from home, having additional space is critical to maintaining productivity (and sanity). When you buy a house, the compound around is all yours. You can allocate various portions for home office, exercise and leisure. You can have a playhouse for your kids and a designated area for all their activities.
When the yard is all yours, you’re sure the kids are safe. You also have control over their interactions and safety. There’s also space to build a custom garden house for family retreats and parties. If you love gardening, space outside allows you the freedom to maintain a yard. You can also put up a cage for your dog so long as housing regulations allow for such pets.
- Guaranteed freedom from the landlord
The greatest motivation to buy a family house is the freedom from paying rent dues. When living on rented premises, paying rent comes soon after payday.
One can hardly plan for their monthly income without giving Caesar what belongs to Caesar. And because in most areas the landlords have the freedom to raise the rent at will, the tenant remains at their mercy.
Rent dues change with demand in housing facilities. When the demand is high landlords increase rent. A rent increase can cause financial stress to families. However, owning a family house allows one to pay a fixed mortgage rate thus, allowing one to plan for the rest of their monthly income.
- Freedom to reign supreme
A landlord calls the short so long as you live on rented premises. One can hardly repaint or renovate any item in the house at will. The tenant must alert the landlord who decides when and how the repairs or renovations should be done. At times, the landlord may remain adamant in repairing some rooms such as the kid’s space forcing you to incur the expenses.
On the other hand, owning a home allows you the freedom to plan for changes at will. A houseowner can plan and do renovations, repairs and conversions according to their budget. One can repaint the interior according to the needs of individual taste, and style.
- A place to build memories
Homes have an emotional attachment to everyone, especially kids. You probably hold some childhood memories regarding the activities you held in your home while you grew up.
Raising children in a family home builds memories in a space that forever remains relevant to the family. As you make changes to the family home, one can include ideas from the children making them love their home even more.
- Builds wealth
Most people progress financially and socially after buying a family house. The rent burden can weigh one down hardly leaving money for engaging in social activities with friends and family. And because paying rent is not a priority in your financial plan, one can start investing their hard-earned in other areas.
A family home means freedom to grow.