If you and your family have decided to finally invest in buying a home of your own or building a home of your own, you should consider taking some time off to look in to the options available to you because jumping in to a decision like this is not a good idea. One of the worst mistakes that you can make is making a bad investment and this is something that you will want to avoid at all costs.
The pros and cons of outright purchase
Of course, when making an investment in a new home, you will always have two options. You can choose to buy a house outright or you can choose to rent a house from someone until you have the money to one day buy a house of your own. It is always best to buy a house if you have that option rather than rent a house because when you buy a house, you are investing your hard earned money in your own property rather than giving it away in the form of rent. Of course, you will not be able to afford a Hong Kong parkview property rent but it is always better to buy a smaller home than to rent out a bigger more luxurious place because with a home of your own, you can always renovate and expand whenever you have the money to do so.
If you look at the prices of renting vs. buying, you might think that renting is far closer to the amount of money that you currently have in hand when compared to the prices of buying a house out right. However, if you look at the option of taking a bank loan, you might find that the pay back installment is more or less the same price as garden road property buy and therefore, you do not have to have the full buying price in hand in order to buy a house. You can simply apply for a loan instead.
The house you buy should be one that will suit your lifestyle and your needs. Therefore, do not go out and buy the first house https://en.wikipedia.org/wiki/Apartment that you see on sale. Make sure that you analyze your own needs and see if the house suits you. As an example, if you have small children or pets, it is always best to invest in a house with a garden than a small apartment on a floor high up. On the other hand, if you are a single working person, an apartment would suit you just fine.