Benefits of Home Ownership – Housing Listing13 Nov 2017
For most people, the single biggest purchase they will make in their lifetime is property, and with the huge range of house listing sites available on the internet, it is clear that the property market continues to be attractive to many.
Dubai Property Market
In Dubai, Zawaya Property is able to offer advice and guidance to those interested in real estate listings in Dubai. It has extensive Dubai property listings, suitable for both buyers and sellers. In addition, it is able to offer professional help to both owners and tenants looking at property rentals in the area.
There are many reasons people have for choosing to buy a property. Whilst the value of property is often cyclical, with short-term prices being impacted by a range of economic, social and political factors, the value of property can increase significantly over time. This makes property an attractive investment for those able to take a longer-term perspective.
Assuming the value of the property does not fall homeowners will have equity in their property. This equity is the difference between the financed amount and the current value of the property. In cases where the market crashes, this can potentially become negative equity. Assuming equity exists, homeowners can also borrow against this equity, using it as a form of guarantee for banks or other financiers.
Owning a property may have significant tax advantages, depending on the tax regime in place where the property is located, and also dependant on the tax jurisdiction of the homeowners. In many jurisdictions, mortgage payments and other property-related costs might be tax-deductible.
History Another important consideration, especially in times where credit may be harder to obtain, is that having a mortgage and continuing to make regular monthly payments will help in establishing a positive credit history. This may make getting finance easier in the future.
Whilst not necessarily a financial benefit of being a homeowner, the fact that the property belongs to an individual allows them great flexibility in making improvements and modifications as they wish. Even something as simple as being able to have a pet of your choice can have great value. The benefits of home ownership are many. Whilst nobody should enter into such a major financial commitment without a great deal of consideration, the benefits can be significant. If you would like to know more about buying property in Dubai, please contact Zawaya Property for further information.