Benefits of owning your own home

James Carter
Authored by James Carter
Posted: Wednesday, November 25, 2020 - 15:31

Many people dream of owning their own home, but for many reasons, it might not always be viable. Many people find themselves listing the pros and cons. So to help you out, here are a few benefits of home-owning to help you decide if it’s right for you and if you should take the leap.

Decorating and alterations

Obviously, owning your own home means you can decorate how you want. When you rent, there is the constant worry of your safety deposit not being returned due to breakages, accidents, dirt- whatever! Having that freedom to really make a place your own is very liberating and often the difference between a house and a home. Being able to put art on the walls, hang things up, and paint your walls whatever colour you want allows your home to really reflect who you are. Furthermore, you can apply for planning permission for extensions and make more alterations to your home to turn it into your dream place. It also means you don’t have to worry about any scrapes or tears, which is especially helpful if you have little ones running around!

No landlords

Not having to deal with landlords is also a hugely freeing benefit of homeownership. The majority of landlords are great, but there are always some horror stories, and you often don’t know what you’re getting into until you have already moved in and signed the paperwork. By cutting out the landlord, you have more freedom over the property, more stability as to how long you can stay there, more say in who lives with you, internet and energy providers, contractors, and any other work that may need doing on the property. If something breaks or needs fixing, you are able to sort the problem yourself or find your own company to deal with it, rather than run everything by a landlord first. In short, not having a landlord makes everything a lot quicker and smoother.

Help to buy scheme

Buying a property is a huge investment, but with support from a Help to Buy scheme, it can become much more affordable. A large issue many people come across when they want to buy a property is being a first-time buyer. The housing market can be intimidating, but with these schemes, it doesn’t matter if it’s your first house or if you have brought one in the past, you will still get support and help with loans and mortgages, making buying a house more financially viable. Furthermore, these schemes apply to new builds, which hugely decreases the risk of dealing with issues such as leaks, mould, poor insulation, and heating, which can be common when renting or buying somewhere older.

These are just a few things that you might not have considered when thinking about buying a home. If you were seriously considering it before, hopefully these tips have made your decision easier. Owning a house is a big aspiration for a lot of people, and there is plenty of support and options available to help you achieve it!

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