It might sounds like an odd idea but is actually buying as opposed to renting a house the best option for you?
Many people may want to buy their first house, some people are quite happy to rent their entire lives, but what you want and what is practically doable are two different things.
You may have been thinking about if for a while with your parents or partner and done some research on the internet but buying may not be the best option for you.
It could be far more economical to rent for a longer period of time before committing to a property, a mortgage and bills.
So here at Robinsons International we have put together a guide for first-time buyers on the pros and cons of buying the first home. Weigh out the arguments in your mind and do what is best for you. If you decide to take the plunge and buy your first property, use Robinsons International as your Removals service.
An advantage of buying a house is that your hard-earned money will no longer be going in somebody else’s back-pocket. Rent money is often described as dead because it doesn’t count towards anything and you are not putting something down to be able to say it is yours.
By buying, over time the value of the property can change and eventually you can make a profit in the resale of it. Also by having mortgage repayments at a fixed rate you know where you stand so the finances are more settled in comparison to rent which can increase annually.
On the other hand, a disadvantage of buying a home is the fundamental core which is that you are tying yourself down to a mortgage and legal commitments. When renting you can just up and leave without worry but buying a house is more complicated and the mortgage and monthly repayments are serious news.
If you don’t keep up to date your home can be physically repossessed. And when renting, if the boiler broke you could ring up the landlord and they would come and fix it whereas if you own the property, you must pay for unexpected repairs and maintenance.