In the current climate of ‘belt tightening’ and general constraint, it might seem easy to put forward a case for holding off on home ownership. But experience has shown us that people do want to be in control of their own destiny and it appears to be human nature to want to own one’s own property.
Purchasing one’s own home has proved to be an excellent long term investment in this country, in comparison with other types of investment, where the growth might not be so rewarding. Yes there have been hiccups over the years, with fluctuating interest rates and changing trends in the housing market, but taken as a whole there is nothing like owning your own home, with the freedom to extend, personalise and transform the property to your own taste.
As a First Time Buyer it’s very important to make sure you get sound mortgage advice at the outset, to make sure that you buy within your means.
Whenever you buy, the initial years are tough and we have all had to start at the bottom of the ladder, but there is tremendous satisfaction in working one’s way up. However modest your first home may be – it’s amazing how quickly you can climb that ladder to your dream home. So why not start looking now?
Val Hollowood, Norgans Surveyors & Estate Agents