‘One of the financial arguments for buying rather than renting is that each monthly mortgage payment you make is partly a payment to yourself, which will take you a step closer to owning your home outright,’ Phil shares, noting that if you rent your home, your rent payment goes towards your landlord’s mortgage, not yours.
Property experts reveal whether it’s actually worth buying a home when you’re young Getting on the property ladder is certainly no mean feat, but considering that the average 21-year-old will have paid their landlord £80,000 by their 30th birthday, if you’ve got the means to buy young, is it worth it?.
And so, with that in mind, Metro chatted to a handful of property experts to understand whether it’s really worth buying a home while you’re still young.
As Phil Spencer, property expert and founder of property advice website Move iQ believes, buying your first home isn’t always just about the money.
But buying a home is one of the most significant financial decisions any of us can ever wish to make, since the majority of first-time buyers will need a mortgage to help them spread the cost.
