Should I buy?

Buying a house is a big step and a massive investment, which will require a lot of thought and decision making.

You must first work out if buying is the right thing for you to do and is now the right time for you personally. This will depend on your current job, savings and your short and long-term aspirations.

The main benefits to owning your own home are:

Long term investment: Once you have paid off your mortgage, you’ll own your home outright. This will lead to no further payments towards a home later in life and if property prices have risen in your area, it could also be worth more than you paid for it.

It’s yours: Because it’s your own home, you can do exactly what you want with it. No more having to get permission from a landlord if you want to decorate.

Moving up the ladder: Hopefully your house will increase in value over time and if this happens you could use the equity to move to a bigger house or a better area.