Buying your own home 

There are advantages and disadvantages of buying your own home.

The advantages are:

  • You will have a bigger choice of homes.
  • Owning your home offers long-term security.
  • Your family may be able to help you buy.

The disadvantages are:

  • You must have a deposit.
  • You will have to pay the costs involved such as valuation and legal fees, estate agent’s fees, and removal costs.
  • It is not so easy to move on. For example, there will be costs involved if you want to move.
  • You will need to get advice about earning your own money and how that will affect you in the future.
  • You are responsible for organising and paying for repairs if you own it.