The advantages of Owning your Own HomeMany people will spend the rest of their life living in a rented property. In fact, they will do so quite happily. However, some people will spend a lot of their time contemplating whether they should consider purchasing a home. There are so many things to consider when it comes to purchasing a home which can leave anyone thinking about sticking to renting. However, there are also many advantages which definitely outweigh the issues for the majority of people considering climbing on the property ladder. One of the first things you need to think about is ownership. This home will be yours. Your name will be on the property papers. For many, this is a lifelong dream that is also a great achievement. You and you alone will be in charge of your home. Many people will argue that mortgage repayments are too hard to handle but consider this: If you can spend a certain amount of money on rent every month, then why not on a mortgage? The only difference would be that your mortgage repayments would be adding up towards something that will be yours eventually, whereas paying rent will never contribute to the ownership of anything. Another thing you need to think about is lifestyle. When you own a house, you can decorate it the way you want, which is often not the case in rented properties. You can wallpaper, paint, cement, plaster and do whatever else you please to make your home the perfect place for you and your family to live. Additionally, you can carry out additional work on the house such as extensions, building conservatories etc. Owning a home offers one a great sense of achievement. Knowing that something as grand as a house belongs to you is one of the greatest feelings one can have. It also offers you with a great sense of security. Renting never has that permanent security. You never know when your landlord is going to give you a thirty day’s evacuation notice. However, in your own home, you decide exactly how long you want to live in it, which is a great feeling. If you have children, a house is a great place to raise them. Houses have gardens which allow your children to play out in a safe environment where you are able to keep an eye on them. In the long haul, a house is a great inheritance to leave for your children. So even if you are not the richest person, you are able to leave something great behind for them. The property market always fluctuates and this can work out great for you if you do your research properly. Purchasing a house when the property market is down is a great way of getting on the property ladder and saving a lot of money. Later on in life, if you wish to sell and move into another house, you could end up making a huge profit which may allow you to purchase your next home in cash! That means – no rent, no mortgage, and no stress! Purchasing a home is a great thing to do for many different reasons. If you are thinking about it but just are not sure, get in touch with an estate agent and discuss your options. If finance is what is stopping you, arrange an appointment with someone at your bank and discuss your options in terms of mortgages and how much you can afford. Either way, you should definitely consider purchasing your own home.