Having your own property is the dream of many French people. However, few have the capital to buy their home without going through a loan. Many people are turning to renting which, compared to buying, seems more accessible. If you can take out a home loan, however, buying is a better option than renting. Find out why it is much more advantageous to own your main residence than to rent.
Become an owner to build up capital over the long term
Buying a main residence, whether new or old, allows you to build up a heritage and therefore, to build up real estate capital over the long term. Moreover, due to the almost systematic progression of the value of the stone over the medium / long term, buying real estate is often an excellent financial investment. If, at a later date, the owner plans to resell the house, the cost of the loan can be amortized thanks to this price increase over the period in question.
Are you planning to buy a main residence? Know that you have to wait for the right moment, which is also the reason why it is important to be assisted by a real estate agency such as Pierre Passions Immobilier, which can accompany you to define your project and the relevance of the purchase.
The advantages of buying over renting
Buying is always better than renting, if only to avoid repeated moves and the precariousness of renting, insofar as the lessor can end the rental lease to occupy his property himself or resell it (when deadlines provided for in the lease, i.e. 3 years for an empty dwelling, or 1 year for a furnished apartment).
Being an owner is the best solution to ensure peace of mind. No need to report to the landlord for the maintenance of the accommodation and to pay rent every month for a property that does not belong to you. In addition, you can arrange all the rooms as you wish and carry out renovations according to your tastes at any time. Once the mortgage has been repaid, all you have to do is calmly prepare for your retirement and bequeath the property to your descendants.
Moreover, the purchase in the new or the old allows to benefit from certain tax advantages. This is the case, for example, for the purchase of housing with the Low Energy Consumption Building (BBC) label. If you are a first-time buyer and you plan to buy a new property, you have the possibility of benefiting from home ownership assistance schemes, such as the PTZ+, under certain conditions.
Staying a tenant is not inadvisable, however, especially for those who are forced to constantly move because of their work. Renting is more suitable if you plan to occupy the house for only a few years. You will not have to deal with charges imposed on owners such as property tax, which can be high depending on the location of the property and the property itself. The same is true for expenses related to the maintenance of certain equipment and any work to bring it up to standard. It should be noted however that, owner or tenant, the housing tax is compulsory for any occupant of a dwelling.