Think about Hawaii and you will see in your mind, the places where you can enjoy and have fun. Hawaii is a wonderful vacation destination. However, this is not all about Hawaii, it is also a fantastic place to live, not just the temporary stay for few weeks, but having your own house and spending rest of your life. You can buy a house in any Islands of Big Island, Lanai, Oahu, Kaui, Molokai, Maui etc.
If you are still not considering about buying a house in Hawaii, I will give you good reasons why you should buy a home in Hawaii.
Average home price in Hawaii is higher than in the US mainland. However, the Hawaiian real estate marketing is very fluctuating. Currently, the real estate market in Hawaii is somewhat stable, some experts even say that the market is going down. What to do when the real estate market is going down? Yes, that’s right. You should invest in property. If you are thinking of buying a house in Hawaii, you should not dillydally. Home prices in Hawaii are going down for several years now. No one can predict the future, but when you buy now, you will be buying when the price is definitely not at the top.
Hawaii is a cluster of big and small islands. In fact Hawaii is a land scarce US state. Every year the land where property can be developed is being occupied. One day there will be no more land to erect houses. If you like living in Hawaii, you don’t want that to happen to you. Buy home in Hawaii when you can still get a house with a good landscape. Land scarcity means home prices going up. If you miss this opportunity, one day only millionaires will be able to buy a house in Hawaii.
So you don’t have money to buy a home in Hawaii? So what, you can finance through banks. You don’t have to worry about the bank interest rate. At this moment, interest rates are very low. Because of low interest rate scenario, you could save thousands of dollars in monthly repayments. Monthly installments will not squeeze your wallet.
If you want to live in Hawaii, you can do two things, you buy a house or rent a house. If you are thinking to live in that place for a long time, renting is a very bad idea. The rental money can actually buy your own house. Think about the total sum you will be spending in 5 years, Instead of paying monthly rents you can use that money to pay your bank repayments. At the end of rental tenure you will have nothing. However, if you finance your house through bank, you will have your own house by the end of repayments.
So you worry about the fluctuating market, you worry about the marketing going down. You worry whether you cannot recover your investment or not. Recenter your thoughts. You buy a pair of jeans, you wear it and in some time it will wear and tear. Will you weep about how much money you paid for the jeans. You buy a house, and its value goes down. This should not bother you. You bought a house to live in, you are living in it. Unless you buy homes as an investment and thinking to flip in few years, you should never worry about the market.
Owning a house is a great thing. When you continue to spend your life in a rented house you will have nothing left when the rental tenure ends. Having your own house gives you the pride of ownership and it is beyond dollars. Ownership over a house means you have a secured future. At your old age you don’t have to move from one house to another. You can even live off by renting your house.