Many people either do not want to get on the property ladder or are not able to do so for financial reasons. However, for those who want to and are able to invest in bricks and mortar, it makes good sense in the long term, as long as you are sure that you will be able to afford the mortgage repayments.
A house is usually a long term investment, one which passes to your heirs or even be used to generate cash for you in your lifetime through one of the equity release schemes
If you are able to pay if off relatively early in life, say in your forties or even fifties, it means that you will be able to enjoy your mid life and then retirement years with a greater sense of certainty than if you are living in rented accommodation.
It is also important to buy at the right time – many people were stung when the property bubble burst a couple of years ago as they bought at the highest prices and they may be even suffering from negative equity on their property if the house has devalued.
If you are in the lucky position of being able to buy a nice house then it is also a legacy that you can leave to your children to help them on their way.
