Young woman takes five while moving home

16 June 2015

Reasons to get on the property ladder

Customer Director Julie-Ann Haines discusses our varying reasons for wanting to get on the property ladder, from the pull of financial security, to the freedom and space to start a family.

Everyone’s circumstances are different and for some people buying a home may not be the best option but for many people buying a home is a momentous occasion. Whether it marks the end of years of renting, moving out of your parent’s house or the start of a long-term commitment with your partner, buying a home can be a huge step in your life.

Committing to owning a home can feel daunting and you may often wonder if buying a house is the right thing to do. Having reservations is natural, especially when making the biggest purchase of your life. Despite the normal apprehensions that come with buying a house, there are many sensible reasons for wanting to be a homeowner. 

Financial Stability

  • Making your mortgage payments on time will steadily build your equity over time.
    (Equity is the difference between the value of your home and the amount of your mortgage.)
  • Reliant on the market, your home may gain value over time giving you even more equity.
  • You can save a hefty £194,000 in comparison to renting according to previous research from Barclays.*

Renting Problems

  • If anything in your rented property should break for instance, often waiting on a landlord or maintenance company to fix the problem can take a while. 
  • Landlord’s circumstances may change and no longer be able to rent out the property, which could result in renters being asked to leave. 


  • Gaining that much-valued independence to do what you want to it, from small tweaks such as repainting to large renovations such as a loft conversion. 
  • Having the freedom to express your own personal tastes, change a house to suit your own needs and take pride in ownership is a very appealing factor in being a home owner. 
  • It’s important to remember however, that if you eventually sell your home, not everyone may like the way you have decorated it.

Future Plans

  • For some of us, the reasons for wanting to own a home are based more on looking towards the future.
  • Starting a family can be an exciting but also scary prospect, but with the security of a house and mortgage behind you, often there is no better time. 
  • For many, the home acts as the foundation on which your life is built, and often there are additional factors to consider too: How close are the schools? Are there local amenities? Is it a safe area?
  • Moving into a home is a great way of meeting a new community of people, and for many it is the start of much bigger changes in their life. 

Home is truly at the heart of your family life, where decisions, plans and memories are made. Often the trials facing us in the process of buying a home can cloud the reason we wanted to do it in the first place. But ultimately the sense of pride and the security of having your own home still remains a priority for most people and their families in their lives together. 

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Published: 16/06/2015