Owning A Home Is Now A Dream For Many People
With the ever increasing number of tenants across Britain many people face the prospect of never owning their own home as house prices increase to levels not seen before. Homeownership is not at its lowest level since records began and this isn't just a trend.
It has become more and more apparent over the last decade that many people will be locked out of buying a home unless there is a drastic change in the way the housing market functions.
Renting a home does have many advantages over homeownership
Renting a home does have many advantages over homeownership. You can move home without having to worry about selling your home as all you have to do is give two months notice.You are not responsible for the maintenance of your property so if the roof needs fixing you can get it fixed without worrying about a repair bill. You can also get your white goods replaced by your landlord when they break down, There are many other benefits from renting a home.
Homeownership is now a national obsession
However owning a property is now a national obsession and such is the drive to get on the housing ladder that people will do whatever they can to get on the first rung of the housing ladder. You feel much more secure knowing that your landlord can't give you notice to move out which means you are able to plan ahead knowing you will still be living in the same place.
Of course you have a mortgage to pay instead of rent but renting a home is now so expensive that a loan for a home will certainly be cheaper at the present time. Of course all of that could change when mortgage rates start to rise so make the most of it.