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.