Hello World! Welcome Friends! Nassau County is located in Long Island in the South East part of the US state of New York. This region had a population of 7,568,304 local residents in the year 2010. It is now been estimated to have steadily increased to 7,869,820 since 2017. It shares the residents of Suffolk county so its possible the census makes reference to some residents from either side.
Residents from this and all its neighboring counties are constantly relocating or buying property, as the demand keeps increasing, and with it so do the services of professional painters. Find more statistics here.
In 2012 an article published in a reputable magazine through a survey, reported Nassau County as one of the most expensive counties’ and one of the highest income areas in the USA, and the wealthiest in the state of New York. Long Island’s wealthy Gold Coast stretches along 2 popular areas, namely The Hamptons and Brooklyn, near its western waterfront which are lavished with some of the most exclusive residential real estate worth in the millions, in the Western hemisphere and folks here spend thousands of dollars upgrading their homes and getting them painted in all the lavish hues.
Even Hollywood celebrities have decided to invest in mansions in these areas, they are so profitable. People like Robert Downing Jr. owns a humongous house known as the ‘Windmill Cottage’, Brooke Shields also owned a charming cottage, and of course Beyoncé and Jay Z also had their $25 million worth ‘Pond House’ property out in East Hampton, ready and waiting to be sold. All of these properties, and more, have sat on the housing market for years, waiting for the right buyers.
With all its cities and towns popular real estate as part of its lavish lifestyles, Nassau has also a very lucrative property market and the demand for housing has grown every year as has the demand for Nassau Counties painting services. So, if you are looking to invest in property, but not sure if you should buy or rent. Were here to help you decide by taking a look at both.
Advantages to Buying A Home
– Being a home-owner offers long-term benefits of equity, security, potential growth in personal capital. Plus, you can also rent out a room to make that extra income on the side or indirectly- get your tenant to pay your mortgage for you through their rent.
– The option of buying to rent property, has become a very popular one in every county and country. This decision permits you, as a homeowner, to create income from renting out the property which can help you pay back the loan you initially got for the house.
– Not to mention it gives you the creative control over your property i.e. you can modify the property, chop and change it as desired. You can decorate it according to your personal preference, hire professionals to spruce it up and paint it whatever color you want https://www.colorbritepainting.com/nassau-county/ including implementing your style of décor changes, renovations and landscaping done to the outdoors without having to break the bank hiring out contractors for every little thing.
– A house becomes your own legal property once you purchase it, this come with a freedom to allow you to use it at your will, without having endless restrictions often enforced by private Landlords.
– Houses usually improve in value over the years, more so, ones that you have refurbished or renovated to increase in size or modernize.
– You may just get a tax break when you buy a house in your name. Tax deductions on income-generating properties have been known to help buyers save a significant amount of money, not to mention the savings can go into a retirement fund or your kid’s college fund, if you prefer.
– Investing in a house and making regular and on-time repayments, ensures a credible credit score. Having a significantly large investment to your name definitely does help with this, however but paying your bond repayments every month on time and in full, also increases your credit score.
– You can even refinance your housing bond should you wish to withdraw a big amount of money to pay for your business or to invest in other large purchases.
Disadvantages to Buying a Home
– If you are not a responsible person, you may have to think twice about making such a significant investment. Why? Because you will be responsible for paying back your bond, every month and/or any other maintenance costs that come with the house. When something breaks, you will need to foot the bill for it. So, making sure you can do this, and have sufficient funds for this wear and tear, is also a big obligation to take into consideration. Find out how to from this online resource.
– It is a possibility that when you need to resell the house, you don’t make that much of a profit on it. Or you make a marginal profit. Due to volatile housing and economic factors such as a high interest rates or recession, and sometimes some simple reasons such as the demand for property in that particular area has dropped. All these are however factors that are out of your control.
– There are more often than not, supplementary costs to being a house-owner and these usually include insurance, taxes, rates for which you will be responsible.
– There is also a different set of disadvantages to consider – whether you are going for a new-build or an existing property. The pros and cons of these are something to consider. Things like new-build premiums or renovation costs. Sometimes newly built homes can cost significantly more than buying an existing house and refurbishing it.
– Tenants usually have more options of mobility i.e. they can give notice (usually one-month) and up and leave any time they want and choose to live in another area within a few weeks. However, home-owners may have slight difficulty in doing this. The time it takes to put the property on the market yourself or through an agency and get it sold, at an acceptable price, can take anything from 6 months to a few years. Not to mention you may be solely dependent on selling the house first in order to get your money, so you can make a move.
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Is Home Security worth the Investment
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