A new housing report may reassure homeowners and potential homebuyers who are worried about the long-term demand for residential property.
An interesting take on residential property market in the UK. They asked young people, future home buyers, on their home-owning preferences. Almost all of them want to be a home owner.
I bought my home back in 2001, less than six months after I emigrated to the UK. I was renting a house for the first year. For me it was a no brainer, because I calculated that the mortage payment is only a bit more (less than 20%) compared with the rent. Even considering the costs involved, the possibility of a price decrease (didn’t happen, instead it increased 100% over 4 years), I figured the most I will lose is the same as renting, so it evens out. I did come into some inheritance money that I used for the deposit.
All in all I’m happy although I now have the additional burden of insurance and property maintenance!