To buy or not to buy – House edition
Is your house YOURS? As in you own it or are you renting?
Are you saving up to buy or looking for houses to buy already? Have you done all your research?
Ok so apparently this is the first time,since around December 2014, that renters are paying less that homeowners with 90% mortgage! There’s about £100 difference per month depending on location obviously.
COVID-19 affected our whole world, even house prices. Before Covid-19 it was cheaper to own a house then to rent it but since the pandemic rent prices have been falling.
If you have saved enough for a deposit and are ready to buy it would be better to wait a bit till the house market slows downs. Make sure you take into account all the fees you will need to pay besides the deposit. Which.co.uk have put out a guide to help you understand all these extras.
The Citizen Advice has an extensive guide too on the whole ‘buying a home’ subject which I found very interesting and easy to understand if you would some details on the whole process.
Can I afford my dream house?
Now that you have all this information and saved up your deposit comes the part of looking for a house that suits your needs.
I’ll be honest and say I am definitely not ready to buy a house yet. But that doesn’t stop me from browsing and dreaming of that perfect house. I’m sure everyone has a dream house.
I would love a big 5/6 bedroom house, big kitchen and living room for entertaining, huge back garden for the kids to play in and for us to Bbq in the spring/summer. Obviously a garage for our cars(yes hopefully I’ll have a drivers license soon), I’d love to have our own playground for the kids with swings and slides etc. The house would have to be completely detached and a good distance away from neighbours. I’m a sociable person but I love my peace and quiet too. Close to the kids schools and close to shopping is a necessity. Location wise I would prefer to live near a beach. Take long walks by the beach all through the year and have that sea breeze I so miss from back home in Madeira. Anyways this not gonna be cheap but how much is it really going to cost me?
I decided to check it out and investigate. It’s good to have goals and if I’m really going to have my dream house then I need to know how much its going to be. I found an amazing website that sorts it all out for me and makes it easier for me to understand. I’ve never been good at maths so to have something made easy for me is a bonus.
If you would like to calculate your payments this would be a great tool as you can see.
Buying a house is not an easy process nor is it cheap but it’s worth it in the long run for you and your family, no matter how big or small your family is. It’s nice to call it Yours!
Good luck and I hope I helped in some way.
