With so many renting options and arguably, at this particular moment, renting being the favored options over buying a property… does it make sense to buy a house. We’re not in a position to advise you on whether you should buy a house or not, as this is beyond our remit. However, what we do know is that, in the long run, buying a property is far more beneficial than renting one.
Firstly, and probably most importantly, you need to consider the capital investment and its growth. Buying a house really does make your money work for you. Houses typically grow in value over time. A typical 25 year purchase will see a house double in most areas and, in the capital other affluent areas, it may even triple. Two, you have control of the property, for better or worse. This means, you are free to improve it, adding further value. When renting, things are not so simple. Landlords are often averse to allowing tenants to make changes, largely due to insurance implications. Put simply, when renting, the house isn’t your own and you’re forced to live in a property that cant be changes… even if you could rent out your house adding an additional income steam, which is never bad, If you play your cards right… you could probably buy a number of houses to rent out… which over the long run is money in your pocket.
So buying a house… easy? Buying a house needn’t be a chore… but it’s not the simplest process. Most will have to apply for a mortgage, which means asking a lender for money. This means borrowing from a bank in the majority of cases. for some… this is going to be a pain as you probably already know that you’ve got bad credit. For other it will be less painful… but the whole transaction can take months… so go into your home purchase with your eyes open.
Help is at hand because there is a whole industry of advisers who will be able to help you select your perfect mortgage provider and mortgage product. They will help you choose an interest rate that works best for you and will help you through the application and approval phases. In addition, they will be able to provide you with access to other products like, life insurance, payment protection insurance, home insurance, contents insurance and more. Of course, we are also available to help… so please get in touch–we’d love to speak with you.