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How to Know When it's Time to Buy a Home

If you're living at home still or renting your property, then chances are that you've toyed with the idea of buying your own home in moving in. People are probably telling you all the time just how many advantages there are to owning a home, and you've probably thought how nice it would be to be able to decorate the rooms just how you want them and to never have to worry about getting your deposit back.

But at the same time this is a big step and is not something to be taken lightly. A house is probably the most expensive thing you'll ever buy in your life, and it's also something that will impact on your life in a huge variety of different ways. Some people won't be ready yet to buy a property, but for others it might be the best decision you ever make. Read on and we'll take a look at how you decide which category you fall into, and how you can go about deciding when to bite the bullet and make that move…

Don't Buy a Property If…

Not everyone is in a position where they should be thinking about buying properties. For instance it's not a good idea to buy a property if you don't feel ready to take on the responsibility. Remember that owning a house is a responsibility and you'll now have to take care of all the DIY, you'll have to repair the boiler, and you'll have to regularly make your mortgage repayments. If you're moving in with a partner, then they'll be relying on you to be responsible too.

It's also not really worth buying a home if you intend on moving around a lot over the next couple of years. Moving once a year even is a lot of hassle, but if you plan on travelling or aren't sure where you want to live, then renting could make more sense.

Likewise you may not be in a position financially to move into a new home. In this scenario it's not so much of a matter of whether you should move so much as whether you can.

How to Know When It's Time

On the other hand, if you have the money, you're ready to settle down, and you know where you want to live, then buying a property will start to make a lot more sense. At this point you might start to notice a few more factors influencing you to make the move. If any of these things sound familiar then it may be time…

•    You find yourself daydreaming of grand designs that you can't carry out in a rented flat
•    You are tired of living with your friends/mother
•    You are tired of spending money on rent that you're never going to get back
•    You've had lots of bad arguments with the land lord
•    You're ready for a slightly quieter pace of living
•    You wish you had more space for guests
•    You feel envious when you go round friends' houses
•    Many of your friends are now property owners and you feel like you're getting 'left behind'
•    You're thinking of starting a family

If any of these things sound familiar then maybe it's time to start looking at mortgages. Then you can move into a property that's yours to change as you fit, and that will be a real home for you and any future family.