What are the advantages of using mortgage to buy a house?

[Kelly5]

With using mortgage to buy a house for oneself, it means one has the opportunity of already enjoying the benefits of living in your own house even before making the full payment

 

[GoldenLady]

Where I stay, not all people have access to mortgage. A lot of people develop their property from savings and earnings. Infact, these people seem to have it easier to own a property than those involving in mortgage

 

[Stylex]

Write your reply...what are the advantages of mortgage to buy a house is I think the advantages of mortgage to buy a house is that you don't pay Lary amount of work. If it is a secure property at the right place and location

 

[Bousine123]

I don't see how mortgage is advantageous. It causes you to be depressed knowing you have to use part of your income to pay for a home that is decreasing in value everyday. It's not worth it.

 

[justija]

It makes you have interest in want but you where postponing, you keep paying gradually till it becomes yours , same as I did on my solar , now am a owner of a solar and I have my light with no disturbance

 

[Snazzy001]

For a long time now I have been trying to understand this very aspect of business. Thank you for bringing this up and I'm sure I have learnt a lot from this topic

 

[HayKay]

One great way that mortgage helps is that you have the opportunity to plan and make payments instalmentally. That way you are chanced to focus on other things and develop yourself

 

[Alexandoy]

With using mortgage to buy a house for oneself, it means one has the opportunity of already enjoying the benefits of living in your own house even before making the full payment

That is very true as per my experience. Instead of paying 8,000 pesos for the rental of the house where we were staying I took a mortgage and bought an old house. The installment was 13,000 monthly but later on the interest rate went down which lowered the installment at 11,000 pesos.

 

[tuna89]

Now, if you're asking if taking a mortgage is financially more sound than paying cash, the answer is no. But few would be able to do that, right? Taking a mortgage as opposed to renting? That's more of a difficult question. In many markets the availability of rental properties makes it an interesting option, but owning your place has additional benefits, it's emotionally rewarding and brings a sense of security, both quite hard to price.

Thanks for these information, they are worth making references to whenever issues arise with respect to differentiating them as regards rents, security, price etc

 

[Ceeny007]

If you have a steady stable source of income and you can't afford a house outrightly then mortgaging is your surest way to being a landlord

 

[Blessedsam60]

The advantage outweighs the disadvantage if properly planned. Take for example, a building that you cannot afford with your salary can be purchased with a mortgage and you pay installment ally till the completion

 

[Lens]

There are certain things to consider before applying for a mortgage loan. The ability to payback with no stress is to be considered. The premium payments shouldn't be too high and it must be conveniently affordable by you. If your income can't cope with repayment, don't venture into it.

 

[Nomad]

The rent you pay to your landlord will be enough to pay your mortgage installments. When you regularly pay your mortgage installments, after few years, the house will be yours, that's not the case with renting a house.

 

[harrypaul]

It is a good way of acquire a property very easily but you must not break a rule or agreement or this may lead to you living on a lifetime loan or even loss of the property and many other things

 

[Ezekiel]

It is not a bad ideal to get a property through mortgage but just that it is not allowing covenience as well it makes one a debtor

 

[tyrim88]

Some people really use that because of emergency to get out of tenancy or to own a property that they'd consider good or cheap to buy at that particular moment to me there's a lot more more advantage if you are hundred percent sure to pay back the money and other advantage in the sense that you can have your property in a shortest period of time,you can take opportunity you think are cheap and cool enough for you ,that's all I know.

The leverage that mortgage brings to potential house owners is the time frame it will afford the potential house owner to be able to pay up his debt in a flexible manner.

 

[Sotherefore]

The leverage that mortgage brings to potential house owners is the time frame it will afford the potential house owner to be able to pay up his debt in a flexible manner.

That is true and I believe anyone can be decided by someone depending on their arrangement and depending on the 1 which is suitable for the individual but the most important one I will decide will be to get the house and pay back on monthly basis.

 

[tyrim88]

That is true and I believe anyone can be decided by someone depending on their arrangement and depending on the 1 which is suitable for the individual but the most important one I will decide will be to get the house and pay back on monthly basis.

On this aspect it would be dependent on the arangement of the institution or firm and the potential owner,it there is a steady flow of income,then that arrangement is also good.

 

[Shigobad2020]

Going into a mortgage to buy and secure a house is not adviseable in my own opinion unless the house is meant to be for renting purposes which will in turn bring miney to pay the mortgage loan.

 

[kayode10]

Mortgage the opportunity to buy a house how to tiny fraction spread the remaining money over a long period of time. You can make most money if you are into real estate investors using mortgage.