Pros of buying

Pros of buying

Pros of buying

We all dream of an independent life, a home, a place we can call our own and do up and be happy within. We look for the nice garden, somewhere to park the new Volkswagen fox in Scotland, the best offers, great interest rates, and low mortgage repayments. Following on from the pros and cons of renting in Scotland, here are a few positives to owning and buying your own property.

The interest mortgage payments and property taxes are tax deductible. Again if you understand what this means please let me know.

Once you have bought your property, every two years the positive of enjoying a tax-free gain in capital of up to 250,000. If the main property adheres to a huge list of rules and conditions you could be in for a definite positive in value.

When looking into buying, the property you purchase is your own. A lot can be said for being independent and the freedom to renovate, decorate, and within council guidelines build upon the land you have purchased is a very big plus.

The house you live in and pay for will offer you the independence and security you want as young adult. As long as you keep up with the repayments and live within your means there shouldn't be any reason why you cannot live somewhere nice and live the life you want to.

Other positives of buying include whether or not you wish to rent a room out. Obviously within your own terms and conditions, you could have a friend move in who would then be able to contribute to the bills etc, offering you the discretionary financial freedom to save, spend or whatever it is you want to do with your hard earned cash.

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