Can Your House Be An Extra Income Source?

To answer the question, why would I want to spend so much to buy a house when I can live on rent forever, muse include a more compelling argument than, well, you are going to own your own house. The modern method is not to own or get attached to anything as such; people don’t own cars or like to drive, they use online taxi booking services. They are no longer looking to reserve hotels but booking a homestay online. In this backdrop, you will only be successful in selling a house if you show reason such as your house can become an investment for you as well.

Is rent as good as they say?

Again and again, the lesson with real estate St Leonards is location. If you have a house at a good location then that is a win there itself. It is true that you don’t have to bother about taking care of maintenance and utility facilities such as electricity, water or gas when you are on rent. However, is the amount you pay for these and the rent payment, justified?Imagine for a second if you actually bought a house; compare the amount you have to pay in monthly mortgage payment to what you pay now as rent, utility payments and other payments such as welfare society charges or payments for swimming pool or other sports facilities provided by your landlord if it’s a housing project. Provided but you probably do not have time to use. Hence stop a while and think of all the value-for-money you are getting, or in reality, not getting.

Saving time when buying the house

Once you have your own place, there are so many options you will have. But, before that, you must consider what to do to get it at the lowest cost possible. This is not only the cost of the house in monetary terms; it includes your time, do you have to spend hours filling paperwork? It includes the number of times you have to go to the bank or number of people you have to find as guarantors. Talk to several service providers and find the best one who will let you not only secure a property for a low cost but also will spare you from spending all your available leave to obtain a loan.

Advantages in buying an own house

So what investment opportunities are there in buying an own house? First one is rent. Living for rent for a long time now you know what kind of an income source that is. You build or buy once, but it continues to give you an income. Make sure there is a legally approved and signed agreement with your lessees or tenants. Choose the tenants after doing a good background check so that you won’t have to worry about them destroying your place. Next is space to lend. If you are in the city area, space is gold. For anyone to have a car park, conduct an open market or even a small outdoor celebration, you can lend the space by the hour. Of course, services such as homestays and air bnb are available too. One more area which most do not think about is a gardening. With a kitchen garden, you can source vegetables and/ or spices for your own dishes which are free of any chemicals. Look at things in a different way when it comes to routine stuff; you will see that there is an advantage in many of them still.