If you are renting your current accommodations, you are keenly aware that the money you fork over to the land lord at the beginning of each month simply up and vanishes from your life like a cloud in the sky...
The reward for the exchange of your hard-earned money is shelter, which is certainly a priority, however, that money doesn't keep working for you next month. That's when you have to pay the rent again, and again and again.
Homeownership is not as 'expensive' as you might think, especially when compared to the life-long cost of renting. The home ownership rate in Canada is a whopping 68%* largely because of the benefits that come from homeownership. So we are here to share with you the possibility that owning a home and making your monthly rent money work for you is truly a goal worth pursuing.
We can't argue with the fact that it is certainly easier to rent a house or an apartment and not have to deal with the payment of land or water taxes, maintain the yard, or do any major maintenance. But seeing as a large majority of people in Canada are homeowners, perhaps it's time to find out your own home buying options and create a life where you are building equity instead of paying the mortgage of the landlord.
We like to consider the monthly payments you make for owning your home as payments you are making to increase your share of your home's value. Although it does take time for the payments on a mortgage to begin to pay off the principle, when we take the long view, the benefits far outweigh the costs.
One of the most notable ways in which home ownership can out-shine renting is that mortgage interest and property taxes are deductible from federal income taxes, whereas payments for monthly rent are not.
The tax savings alone can make homeownership cheaper than renting!
Be sure to sign on for a fixed-interest-rate mortgage and you will enjoy the consistency of paying the same amount every month for the length of the loan, whereas rental payments can be raised every year, depending on the terms of your rental agreement.
Home ownership certainly comes with its benefits, the main one being a place for you and your family to live and grow, and it's so much less stressful when you don't have to deal with yearly lease agreements, or worse yet, having to move time and again!
When you are the homeowner, you get to make the rules. You can have any kind of pets that you want. You can decide to decorate how you like, paint your home the colours you prefer, and you can even decide to change your mind if you don't like it!
Your home can fully reflect your own tastes, so long as you adhere to the legal restrictions of the area, and that is a feeling of freedom that does not come with being a renter.
The investment in a home comes with it the area surrounding it, so you certainly want to enjoy the space, people and local flare that your community will bring. People tend to feel more involved in their community when they own their homes, as opposed to people who rent.
That is why Ucluelet is a winning choice for where to choose to be a homeowner: the schools are top-notch, you have access to both the essential and luxurious products and services that you could ever need or want, and this is surrounded in all directions by the spell-binding natural beauty of the West Coast of Vancouver Island.
When you buy a home in Ucluelet, you will find a place of belonging and get to enjoy so many unique and exciting local activities, festivals and explorations that you simply will not find anywhere else.
If you would like the opportunity to have shelter and also have those monthly payments keep working for you long-term - Find out if you are financially ready to buy a Ucluelet home here.
... and even if a single-family home is not possible for you financially right now...
Did you know that Ucluelet has some of the most superb seaside Condos for sale that might fit your budget. Possibly even leaving you with money to spare at the end of the month, while you begin to build equity!
So, who wants to start living in Ukee!?
Feel free to contact us for your chance to explore so much more of the beautiful west coast of Vancouver Island!
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