Welcome to The Sprout! Please sign up or login

Information » Housing » Buying a New Home



Buying A New Home

Many people in this country buy their own home but a property is not actually ‘owned’ until the bank loan you have taken out (commonly referred to as mortgage) has been fully repaid. Sometimes this can take up to 30 years so when some people say ‘I have bought a house’, what they really mean is ‘I’m buying a house’. If you fail to repay your mortgage on time, you lose the house.

Buying your own accommodation may not necessarily be the best option for everyone as it is expensive and involves a long-term financial commitment.

It also normally requires quite a significant amount of money as a deposit to be paid upfront and because of this, it is often not a realistic housing option for the majority of young people.

However, it is important to find out what it involves to buy your own place since you may one day choose to do so. This section will provide all the information on housing that you need to know.

Related Media

Useful Links

Got something to say?

You must be logged in to post comments on this website.

Login or Register.

Please take a few minutes to complete this survey. It will help us find out how you use the website so we can keep improving it for you. Everyone who completes the survey will get the chance to win £50.