1. You can your space your own
Owning your own home means you can renovate to your own tastes, knock down walls, change the lighting options and make any changes to your decor without fearing you’ll lose your security deposit. Being a homeowner gives you control over the space you live in, which means the place you call home will actually feel more like home.
2. The rising cost of renting
Even though renting may currently be the cheaper option, rents will always continue to rise in line with the increasing values of properties. Not to mention you never stop paying rent, whereas most people will pay off their mortgage within 25 to 30 years.
3. Owning a home is a forced savings plan
It isn’t always easy to train oneself to save regularly. When you’re a homeowner however you have to pay off your loan every month, which means you routinely put money away. Should you choose to sell your home after the mortgage is paid off, you’ll walk away with all the equity plus the appreciation value. Quite the savings to walk away with.
4. Homeownership allows you to build passive income
Homeowners often find ways to monetize their homes, such as renting a spare bedroom or garage, putting it up on platforms such as Airbnb over the holidays, or renting the entire unit when it’s not their primary residence.
5. No landlord can kick you out
Renters can face an unexpected eviction notice if their landlord suddenly decides to sell the home, rent to someone else, or otherwise end the lease. That’s one reason Boston University economics professor Laurence Kotlikoff says that for older people with a fixed income, in particular, he recommends home ownership (and a paid-off mortgage). “It’s important for older people to be in a home that they own as security against a landlord,” he says. It’s also important to secure a homeownership early to give you security and equity.
Feeling convinced? Our project’s first phase (of a total of four) will be completed in February 2019. When complete the project will comprise of over 2000 units ranging from studio apartments to 3 bedroom units! With units starting for as little as Ksh 1.7 Million it’s Kenya’s truly most affordable quality housing project.
For more info please visit our website www.rirutagardens.com or call us on 0796896370.