Where to start with my new blog? The beginning of course! Why should you buy a house rather than rent?

The first problem most people encounter is why they should buy a house rather than renting. For many the very thought of buying a property and having a mortgage can be so daunting that they simply block it out and continue to rent properties. The simple truth is that paying a mortgage can often work out the same as it’s currently costing you for renting a property! There are of course many things which will determine the cost of your mortgage such as your age, income, deposit and such like so I’m afraid I can’t give any hard and firm answers on which is cheaper for you.

As an example there are currently 2 bedroom flats in my local area which cost £750 a month, if you look online you can a similar property in the same area and then find a mortgage comparison website to get a rough idea of what the monthly mortgage costs would be. For me it wasn’t much more than the £750 rent and that was with a very small deposit! So check it out now and just see if it really will cost you more to buy than paying rent and ultimately paying someone else’s mortgage!

Amy x

This entry was posted on Wednesday, October 31st, 2007 at 4:47 pm and is filed under Mortgage Woes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.