The benefits of buying your own home Housing ownership There are other important reasons why “ Residential ownership ” is better than “renter”. First of all: residential ownership is less expensive than long-term tenant.
Leasing is a benefit only to the landlord. But for tenants, it will be at a disadvantage, for example, if the rent is 10,000 baht per month, which is 120,000 baht per year, if paid continuously for a period of 30 years, or 3.6 million baht.
30 years time, which is in fact impossible Because the rent would increase in line with inflation conditions
This will make the total rental amount over the period of 3.6 million baht, when calculated by increasing
the rental price every year. The rent burden may double during the last 5-10 years or if the lease is relocated during the period.
Inevitably has moving expenses New furniture The cost of refurbishment and others will definitely increase.
But if you own your own residence Over a 30-year period, the value of housing will only increase.
This can be seen from the current price of new-built housing for sale compared to the price of new-built homes sold 30 years ago on the same size of land. The same usable area In the same location The price may increase several times, for example, in the area of Chaengwattana Road. Prices have increased more than 10 times over a period of 30 years.
Second: Owning a residence is the use of other people’s money (OPM), that is, the use of home loans. Or borrowing from financial institutions to buy housing This will allow consumers to use less of their own cash.
In the event that housing prices go up and the consumer can sell out Will be equal to creating a profit
And the return on that small investment may be many times greater. While if investing in the stock market
or investing in other assets Investors will not be able to apply for a loan from a financial institution, or ask for less.
Third: Residential ownership provides tax benefits.
If it is a residential lease Tenants are not entitled to any tax deduction related to housing. But home buyers by borrowing from a financial institution.
Able to take full advantage of the deduction of interest payments on such loans from assessable income.
To calculate the annual income tax for each year The IRS allows consumers to deduct their mortgage interest
payments from their assessable income. In the amount of not more than 100,000 baht per year. Fourth: Residential ownership generates savings.
Because every time a consumer repays a home loan, it is a gradual reduction of the debt load.
Or as a savings to create equity (Equity) for themselves, so if the ownership of the house for longer
There is a longer repayment of credit.
The capital is increasing every now and then. It is a saving for the future that is clearly tangible, so if you have a real need for housing in the long term.
Therefore buying a residence is a better option than renting. However, you must be ready. And have to do
homework and study on the housing that you will buy well first By buying from reputable developers of residential
projects Have a good image Have social responsibility And has long experience in building and selling homes.