- When you buy a home, your home loan decreases yet your home goes up in value over time and one day you might sell it at a profit and buy a bigger one as your family gets bigger or your salary gets bigger.
- If you don’t want to sell your first home, you could rent it and earn passive income.
- As time goes on, house prices tend to go higher and higher. So the sooner you buy your own home, the better, because you will have to pay more to buy a home at a later stage.
- Are you renting because you say you cannot afford to pay off a home loan right now? But do you realise that your rent is actually paying someone else’s bond? Why not use your rent to pay towards your own home?
- It is difficult to buy a first home but thereafter it gets easier. If you sell your first home, you can use the profit you make as a deposit towards your 2nd bigger home. So buy that first home, even if it is only a flat.
- The younger you are when you buy your home, the younger you will be when you finish paying it off. Imagine how easy life would be when you own your own home debt free!
- You don’t want to take a home loan because you believe 20 years is too long to pay off your debt? Remember that you can pay off your home in less than 20 years. The easiest way to pay off your home loan sooner is by:
- Increasing your home loan repayments every year when you get your salary increase;
- Putting some of your bonus or any lump sum payments into your home loan. There are people who have paid for their homes in as little as eight years by paying more towards their home loans than their banks required of them.
- A home loan is the cheapest form of debt. If you don’t have a home loan, you are losing out on cheap debt!
- If you were to die while your kids were still young and your debt was covered by a life insurance payout or a home loan protection policy, your children and partner would at least always have a home.
- You can use your home loan to pay university fees for your children.
Get yourself a copy of the book, 7 Secrets why the rich own their homes to find out more about these.
Do you want us to help you get a home loan? Call us on 0861 00 48 43.