A careful selection of your house, paired with the advice of a mortgage can be a solid investment. Property is marketable, and you can design and decorate it as you see fit without having to answer to a landlord.
The advantages of homeownership as opposed to renting, are as follows:
You are in control of your finances not being subject to rent increases by a third-party.
Any increase in the property value will become an asset to the client as opposed to a nil asset in terms of living in somebody else’s asset.
Most first time clients choose to cover themselves comprehensively in terms of insurance when they buy a property as opposed to when renting. Therefore clients generally feel more secure once they own the property.
The disadvantages of homeownership as opposed to renting, are as follows:
Mortgages are subject to interest rate increases; therefore should interest rates rise significantly, this can have a severe impact on the client's standard of living in terms of net disposable income.
The mortgage advisors remit or care must ensure that clients safeguard these interest rate increases in terms of building financial buffers for the future.”