Here’s Why Purchasing a Home Should Be Your Priority
When you get to the stage in your life when debt is a thing of the past and you are in the position to save you may be in a position to start looking at investing your savings.
With lots of options available, we will be looking at two of those and point out the risks and rewards of investing in stocks or Algarve real estate.
It can be a difficult decision for many people to decide what type of investment is going to work better for them in the future. If you’re currently considering what you should invest your money in, here are some good reasons you may want to turn to invest in Algarve real estate.
It’s Something You Can See and touch
While investing in the stock market affords you the risk limitation and you are able to invest as little or as much as you, buying an Algarve property will take a down payment of around 20% or more and afterwards a monthly payment in order to make the deal.
However, this does mean that you will be investing money every month into something that belongs to you and that you can see and touch.
Let us not forget a home is not only something you can invest in all the time, but it will also enable you to avoid putting money into rent that you’ll never get back.
Saving Money On Tax Breaks
There is always a certain amount of volatility with any stock market investment, but when it comes to buying a property you also have the benefit of tax breaks that are designed specifically for property owners. I
In addition to the advantage of being able to deduct interest on your main property of residence. If you have resided in your Algarve property for a minimum of two of the last five years. You will be able to sell it tax-free.
Investing in a property certainly involves a commitment, however, there are many available tax benefits that can save you money.
A Sense Of Security
Many people decide to invest in a home because it offers up a piece of mind knowing that they have bought something that they really own.
Another appealing aspect of buying a home against market investment is that there is no need for the day-to-day involvement of watching or buying and selling your stocks and shares.
Investing can be stressful for most people even if they’re knowledgeable about the markets. This can lead to mistakes when selling off and losing money when the going gets tough.
Avoid the Financial Risks
Investing in Algarve real estate or stock markets both involve a certain degree of financial risk, but you should be aware that there are several added benefits to buying a home.
From the tax break incentives to the real sense of security, Algarve real estate more often than not can be the better financial route to take.
If you’re currently considering buying property in the Algarve you may want to contact one of our Algarve real estate professionals for more information.