Why Buy Property?

We've put together five of the top financial reasons you might want to consider when deciding whether or not to buy a house.

Reason 1

Owning your home gives you security. As long as you keep up your mortgage payments, you know that you can stay in your home as long as you like.

Reason 2

Buying can be cheaper than renting. According to recent research, even taking into account the costs involved in maintaining a property, over 25 years it is 57% cheaper on average to buy than rent.

Reason 3

Because lenders are so keen to attract new customers, especially first-time buyers, many offer to help out with some of the upfront costs involved in buying a property, such as valuation and legal fees, either by refunding them if the mortgage goes ahead or by providing a cash lump sum.

Reason 4

Providing your property goes up in value, buying your own home can mean that if, in the future, you want to finance home improvements - or any other large purchase, such as a car - you can extend your mortgage rather than using more costly types of loan.

Reason 5

When you have paid off the mortgage, you will have acquired a substantial financial asset and a home the costs very little to live in.