If quarantine has taught us anything, it’s that home is important. It’s the place that gives us the sense of belonging and makes us feel safe. Becoming a homeowner for most people is likely the biggest financial transaction of their lifetime and it comes with many benefits.
1. Paying your own mortgage
Can you calculate how much money you’ve spent on home rental over the years? It’s likely you would be half way down the road of becoming a homeowner if you directed that investment towards your housing loan. Forget about building equity for someone else and start investing into your own wealth.
2. Potential investment
Owning a real estate has been known as the safest type of investment for decades. Especially in Montenegro where property prices have been constantly increasing (for example, the average prices per square meter in Podgorica increased by 8% in 2019). A return on your investment is almost guaranteed – either through a resale or renting the property out.
3. Freedom to personalize
Unlike with the restrictions that come with renting the property, homeowners are free to customize their living space to suite their needs and taste. However, if you’re buying real estate as a rental investment you might want to think twice before painting the walls into your favorite color – homes designed in neutral styles have much higher chances of renting out faster. Take a look at our guide on property rental market in Montenegro and buying real estate for investment purposes.
4. Home sweet home
A home is a central place to entertain and gather with loved ones. Becoming a homeowner provides control and makes us feel safe. After all, owning a home is a beautiful thing.
If you’re ready to become a property owner and start building your own equity, contact our agents at one of RE/MAX Montenegro offices, who will help you find the right home for you and your family.