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House and apartment

Buying a house or an apartment is everyone’s dream. And they can’t
be wrong, as there are so many short, medium and long-term advantages.

You save for yourself

As a homeowner, you will probably have to take out and pay off a
mortgage. But even though you’ll be paying off a home loan every month, you’ll
actually be paying for yourself. You are buying a property that will one day be
free and clear of all charges. Without debts, therefore. And by that time, you
will have built up a certain amount of wealth. You will therefore simply be
saving for yourself in the long term. Make an appointment to discuss your
possibilities.

You benefit from a special tax regime

There are several tax regimes in Belgium for homeowners. These
regimes will vary depending on when you become a homeowner and start paying off
your home. The government has always provided tax incentives for home
ownership. Even if the tax advantages are no longer what they used to be, you
will still benefit from a nice sum that will be deducted from your taxable
income. You’ll pay less tax, with a better chance of actually being repaid each
year.

You create a capital gain on your property

As an owner, you will of course have to maintain your property and
make repairs if necessary. But by acting intelligently, you will create added
value. A well-maintained house will retain its value in the long term and you
will have a nice pear for your thirst. Of course, it is up to you later on to
decide what you want to do with the added value. In any case, here are three
examples of what you can do or how you can use your property:

Use your first house as a springboard to acquire a larger one.

You’re about to buy your first house. For most Belgians, it will be
a “starter” house or an apartment, which will meet their needs at the
time. But as life changes, so will your expectations and needs. Chances are,
sooner or later, you will sell your first home and buy a bigger one. At that
point, you will be able to use the value (or increase in value) of your current
home as a line of credit with the bank and may not necessarily need a bridge
loan.

Using your home as additional collateral for the purchase of a
second home

If you are a little further along in life and are therefore a
little older, you might consider buying a second home, an apartment by the sea,
a house in the Ardennes or a villa abroad. If you have always repaid your
mortgage correctly, you will again have a large margin thanks to your current
home and will thus be stronger to negotiate with the bank by offering your
current home as an additional guarantee to buy your second home.

Selling your home to pay the high costs of a nursing home

If you later become a pensioner or need care, chances are you will
decide to live in a nursing home. However, the costs in a nursing home are very
high and the average Belgian’s pension is not enough to pay for them. Luckily,
your home can be very valuable in those moments for your old age. If you then
sell your home, you will have built up a capital gain and the mortgage will
already be paid off in full or almost in full. You can therefore use the sale
price as a financial mattress and save yourself a lot of financial worries in
your old age.

You create additional income

What matters to young people, in fact, matters to everyone. When
you buy an investment property, you get several advantages:

You become the owner

You generate rental income

You keep all the possibilities to save and buy your own home.

More privacy

Since you and your family are the only ones living in the house,
you simply have more privacy. You don’t have to consider other people living in
the same building. This of course only applies to owners of a house, not to
owners of an apartment. In concrete terms, you are the master in your house and
can do whatever you want in it. Taking into account, of course, the neighbours.

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