Why I want to buy my own home
This post is in collaboration with Mortgage Calculator UK.
After watching the video where Lydia Dinga announced that she had bought her first home (she’s one of my favourite YouTubers), I started thinking about myself and my own situation.
So here’s the deal: currently, I rent, and to be honest, I can’t see myself buying any time soon. I don’t mind renting right now (there are benefits to this) but I would like to get on the property ladder in the future - and one of my lifelong goals is to buy my own home.
Unfortunately, I’m not in a position to buy a home, even though I’d love to. I don’t have the money for a deposit and the additional fees that come with buying a home. I hate that there’s a lot of pressure to get on the property ladder when this is difficult and challenging for so many people. In my opinion, everyone deserves a home but buying a home is a privilege.
People say renting is a waste of money, and yes, I guess in some ways, it is. But for people like myself, it’s the only choice I have right now. I don’t want to rent forever, but if I have to rent to keep a roof over my head then so be it.
Why I want to buy my own home
I can’t wait for the day when I can buy my own home. I’ve always wanted to have a place of my own, and to own your home is one of the best things that you can do for yourself. The feeling of putting down roots and having something that’s yours - that belongs to you - is one of the best feelings in the world. If you can save up for a down payment on a property then do it! I’d 100% recommend it.
Like I said before, renting is the only option for me right now and it looks as though I’ll be renting for a long time before I’ll be able to get on the property ladder.
I’d love to be able to do is to cash-buy a home but unless I suddenly become rich and wealthy, that will only happen in a dream, so I’ll be taking out a mortgage. The good thing is that with useful tools such as the Mortgage Calculator UK, you can calculate how much you can afford to pay back depending on the mortgage amount, interest rate and the length of time on the mortgage.