The Big 5 Reasons to Buy a House Right Now

The Big 5 Reasons to Buy a House Right Now

Category Just Imagine Properties Team

When it comes to making sense of the world around us, we tend to rely on perception and language, simply because these are our most fundamental tools for cognitive and decision-making processes. On an abstract level, we ascribe both concrete, physical and more emotional attributes to virtually everything we encounter. For example, the word "dog" denotes a four-legged animal of the genus canine, but can also represent companionship and loyalty.

Now think of the word "house", or rather, "home". Chances are you didn't just think of a structure made from some bricks and cement, but rather associated emotions such as safety, warmth, security, comfort and love. After all, as some anonymous sage once said, "home is not a place, it's a feeling".

With the great level of uncertainty and instability borne by current events and a socio-economic and geopolitical landscape worlds away from what it was only a year ago, there has never been a better time to invest in your peace of mind.

In this article, we'll take a look at 5 great reasons to buy a house right now.

An anchor in unstable times

To quote from the Great Bard's Richard III, "now is the winter of our discontent"; indeed, the volatility of these times has left nary a soul unaffected, and buying a property provides a solid mooring as we navigate the decidedly choppy waters of 2020 and possibly beyond, in addition to being the most valuable asset in a person's financial portfolio.

Pride of ownership

On an aspirational level, owning a home enables you to create a space that is uniquely you; an expression of your inner self with poetry in every passage and a dream in every doorway.

Emotional security

Feeling safe and secure is one of the most basic of human needs, name-checked in no less than Abraham Maslow's influential and oft-quoted Hierarchy, and second only to physiological needs such as air, water and food. Owning a home saves you and your family the unnecessary stress, disruption and emotional upheaval of having to move when the owner of a rented property decides to sell or lease to someone else.

Appreciation

Property is one of the few assets that appreciates over time and gives the buyer or investor the opportunity to enjoy the full use of the asset over the period of the investment. Unlike a motor vehicle, which decreases in value the moment that it's driven off the showroom floor, a property becomes worth more over time.

Buyers market

We are currently enjoying the full benefits of a buyers market, which means that there are more homes for sale than there are actual buyers. The upshot of this is that the prices of homes are either remaining the same or are decreasing, giving buyers and investors the opportunity to buy property at a much lower price than would be the case in different market conditions where sellers are benefited due to increased buying demand. Add to this the recent announcement that the Reserve Bank will be cutting the repo rate for the fourth time this year, and you have optimal conditions for buying property.

Author: Charl Mijnhardt