Declare independence from expensive house monthly loan repayments or rent in 2023! ๐
We all know how having too much debt, loans and mortgages can be a burden if it is not managed well. While choosing to rent your house or have a mortgage to service your house loans over a longer period seems viable for some, considering ๐ฅ๐๐ฎ๐๐ฃ๐ ๐ฎ๐ค๐ช๐ง ๐๐ค๐ช๐จ๐ ๐๐ฃ ๐๐๐๐ ๐๐๐จ ๐ข๐๐ฃ๐ฎ ๐๐๐ซ๐๐ฃ๐ฉ๐๐๐๐จ. ๐๐ก
Here are my reasons why you should consider paying for your next house in FULL (if you can):
1๏ธโฃ ๐๐ฉ ๐๐ง๐๐๐จ ๐ฎ๐ค๐ช๐ง ๐ข๐๐ฃ๐ ๐ค๐ ๐ฅ๐ค๐จ๐จ๐๐๐ก๐ ๐๐๐ฃ๐๐ฃ๐๐๐๐ก ๐ฅ๐ง๐ค๐๐ก๐๐ข๐จ ๐๐ฃ ๐ฉ๐๐ ๐๐ช๐ฉ๐ช๐ง๐. You could free up some cash for traveling, children’s education, emergency health issues, retirement, or other long-term plans.
2๏ธโฃ ๐๐๐ซ๐๐จ ๐ฎ๐ค๐ช ๐จ๐ฉ๐๐๐๐ก๐๐ฉ๐ฎ ๐ฌ๐๐๐ฃ ๐ฉ๐๐ ๐ฉ๐๐๐ ๐ฉ๐ช๐ง๐ฃ๐จ ๐๐๐๐๐ฃ๐จ๐ฉ ๐ฎ๐ค๐ช, eg: loss of job, salary cut, loss of the main breadwinner, supporting sick spouse, child, parent, or increase in costs like GST hike or electricity tariffs.
3๏ธโฃ You could be ๐จ๐๐ซ๐๐ฃ๐ ๐ค๐ฃ ๐ฉ๐๐ ๐๐ฃ๐ฉ๐๐ง๐๐จ๐ฉ ๐ฅ๐๐ฎ๐ข๐๐ฃ๐ฉ๐จ ๐ค๐ฃ ๐๐ค๐ช๐จ๐๐ฃ๐ ๐ก๐ค๐๐ฃ๐จ or an ๐๐ฃ๐๐ง๐๐๐จ๐ ๐๐ฃ ๐ก๐ค๐๐ฃ ๐๐ฃ๐ฉ๐๐ง๐๐จ๐ฉ ๐ง๐๐ฉ๐๐จ ๐ฌ๐๐ก๐ก ๐ฃ๐ค๐ฉ ๐๐๐๐๐๐ฉ you at all.
Simply put, if you have the financial capability to do so, you could save a lot of money in the long run! Especially in these uncertain times, with inflation and sudden increase in bank interest rates to above 4%, paying in full may free you from uncertain factors currently affecting many homeowners that may lead to serious financial problems and social problems like divorce, or health problems like depression.
Remember to assess your situation and budget well when looking for a new home. Talk to an expert, if you feel like you have concerns and unanswered doubts.
Need someone to help you assess your situation? Give me a call.
Drop me a message on my FB or IG, or WA me at 9178 4459 for a non-obligatory consultation.
