If you are actually interested in acquiring a property there are two legal ways of doing it that it getting hold over it, that is having your own home through lease process or becoming freeholder of the property. Freehold purchase is more popular than lease process and consider more cost effective. It is hugely expensive to purchase a property and it is expensive process, therefore right procedure must be chosen otherwise it may end up in huge loans and mis-management of money.
Benefits of freehold purchase
· Paying rent is extremely difficult and this is even more complicated, if financial constraints or difficulties at workplace are faced, however through paying the entire amount at once, no leases amounts including interest are require paying.
· According to the rent agreement, building repair and maintenance charges are suffered by tenants and this can be more expensive if any fixture get damaged, however freehold purchase keep you safe from these expenses.
· There are few differences in making purchase through lease extensions process or getting the house through freehold purchase, and it is often the selected choice of the purchasers to become landlord of the property through freehold one, rather than through lease process.