Owning your own home is a great dream of many young Australians, or even many older Australians who haven’t quite managed to get there yet!
The reasons for wanting to own your own home are rich and varied, and different from person to person. It might be that you love painting the walls of your home every six months. If so, then a rental house probably isn’t for you! Other people like to build things in their living room out of clay and Papier-mâché. This sadly will damage the floor of a rental house, so if this is you, you big artist you, you had better start saving for your own home now! If you’re worried about the finance side of things, why not browse home loans on the Homestart website for some advice and inspiration?
We have taken the liberty of compiling a list of seven things that you can do when you own your own home as an added incentive! So without further ado, let’s get started.
1. You can paint the walls, the ceiling, and the floor any colour that you like! You can also paint them any time you like as well, which means that you can constantly update the living room to suit your mood if you so desire! If you’re a big decorator but concerned about the cost of the paint why not think about getting some wall paper or fun coverings?
2. You can decorate the place however you want and not worry about putting nails in the wall for the paintings! If you have a particularly large collection of art, this is going to be a big game changer for you! Finally you can have the gallery room you have always dreamed of!
3. You can have people around in your backyard and put down a giant slip and slide, knowing that the grass in’t going to be an issue. If you ruin it, it’s your own fault – no landlords to worry about!
4. You can renovate when ever you want to change your home around, without having to ask permission. Think back to all the share houses that you lived in when you were studying and travelling around… I bet there were some rooms that you could’ve put some extra love and care into! Well now you can flex your designer muscles whenever you feel like it. Don’t like that wall? Great! Knock it down!
5. Have a spare room why not think about renting it out on Airbnb for some extra money? It might be just the spare cash you need to start planning a renovation, which after all you can do whenever you want, because you’re a homeowner, remember?
6. You can move out of it and get tenants in to rent it while you go travelling overseas, giving you some pocket money to play with! This one is actually a really key benefit to owning your own home, because the one of the purposes of owning your own home – apart from being a home for you to live in – is that it’s a way to generate money for retirement and to invest again.
7. You can use the money from the home that you own in the form of leverage to buy another house as an investment property. Now, if the last item was key, then this is completely integral to your wealth plan! Think about buying a house not only as a home but also as an investment for your future. Good luck, and happy saving.
The best things come to those who wait (and those who save) so if this list has inspired you, get started today. Don’t waste another moment!