Anti-mortgage backlash doesn’t make sense, but a lot of people are giving up mortgages in favor of renting. While this might make sense in the short term, it’s something that makes us sad. We have fond memories of the homes our parents owned, and still own to this day. That’s something that you just don’t get with renting. It doesn’t have the same feel to it as buying something that you can fix up over time. Are we expecting you to go out and buy some house that you cant afford? Absolutely not. A person’s ability to pay or inability to pay doesn’t mean that mortgages are bad. It simply means that you’re going to have to be mindful of how much you take out. Nothing wrong with being careful, you know!

There are some points to keep in mind when it comes to reasons for the humble mortgage. Here they are below.

1. Gateway to Investment

A home is a great investment. Let’s say that you already have a home and things are going well. If you spot a house that would be a great rental property, a mortgage helps you claim it. Becoming a landlord lets you have a second stream of income, something that is never a bad thing to have on your side. When things get rough, you always have that little bit of cash flow coming in. Of course, it’s difficult to be a great landlord but it’s certainly far from impossible.

2. Gateway to Legacy

When you have your own home, you have something to pass down to your loved ones. Even after you’re no longer on this earth, you have something that your loved ones can think of when they think of you. You’ve given them something that they can use to shelter their own families, and that’s never a bad thing. As long as they keep up the taxes on it, a paid-off house can be worth a great deal of money. There’s no rent to pay and no landlord to deal with. Your heirs would be in full control and able to lower their spending tremendously. If the family fell on hard times, they could make the decision to sell the property. Of course, this isn’t an easy decision to make but it’s definitely a valid one.

3. Gateway to Leverage

When you have your own home, what you have is an asset that you can use to do other things. For example, you can make smart investments by using your home as collateral. Obviously, this would be a risky move because if you couldn’t make the payments for some reason, you’d be forced to give up your home. But small loans can help you revitalize the space and keep it updated, thus increasing the value of your asset. If you’re going to get into the asset acquisition game, real estate is a good place to start. But unless you just happen to have hundreds of thousands of pounds just at the ready, you’re going to need to get a mortgage.

Overall, mortgages don’t have to be a bad thing at all. The problem is that people believe that they can get a mortgage overnight or instantly, the way they can with a short term loan. There’s a lot more money at stake when it comes to a mortgage, and not all mortgages are the same. If you’re looking to play it safe, there’s nothing wrong with a fixed rate mortgage. It keeps your bills in check, because you will always know how much your mortgage every month. If you’re interested in mortgages, it’s time to connect directly to a qualified broker that can help you wade through the process.