The advantages of buying your home against renting

With house prices sky high at the moment and the housing market extremely buoyant it seems a great time to sell your current property and downsize to a smaller home. You should certainly see a healthy profit on the sale price of your current house and purchasing a smaller property that needs less maintenance both internally and externally will save you a lot of money in the future.  Having all the modern gadgets and fittings incorporated in your new home, such as, solar panels, underfloor heating, triple glazed windows, insulated walls and ceilings, and a Gas Meter box supplied by a professional company such as could save hundreds of pounds on your heating bills and therefore help you achieve one of your life-long dreams of travelling around  the British countryside for weeks at a time before returning to your new home.

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If you are already renting your current home, then the buoyant housing market makes purchasing your own home incredibly difficult.  With inflation higher than before and interest rates soaring the opportunity to purchase your own home in this volatile financial climate is severely reduced.  You would be well advised to wait until the house prices fall and the interest rates come down because even with a sizable deposit your options will be limited. The rental market is also booming mainly because of the higher-than-average house prices and the unpredictability of the U.K. pound. Couples and individuals alike are having to stay in rented accommodation if they haven’t got their own property until house prices fall and sterling recovers.  There are advantages to renting and the main one being that any repairs have to be completed and funded by your landlord.

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Having your own property should always be a blessing, yes, you have to pay a hefty mortgage to the Building Society, keep up with all the maintenance and fund it yourself alongside any home improvements but at the end of the mortgage term the property will be yours and any profits when sold will come to you. Owning your home is also seen to be more advantageous when applying for any credit and comes with the prestigious title of “Homeowner”.  Renting a property can be the only affordable option to some couples and at least it gives less affluent couples and singles the chance to live together or to be independent.


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