Buying a property with someone else can have major practical and financial advantages – including saving up for a deposit, getting a mortgage and paying household bills.But what exactly is joint ownership or co-ownership? What does it mean? What are the pros and cons?
So you are not a homeowner now and you want to become one…Have you ever thought that it’s impossible to get on the property ladder – due to obstacles such as lack of affordability and difficulties in saving the deposit? Of course you have!
This blog explains what is involved in buying a house in the leading world city, as a home or to rent out, and is primarily aimed at ex-pats and foreign nationals – but is good too for UK residents unfamiliar with the intricacies of buying.
According to Pew Research Centre, millennials are people born from 1981 to 1996, broadly people currently (2019) in their early-twenties to late thirties. They are a concern to politicians and commentators because few of them are becoming homeowners compared to prior generations
For an average person, the difference between renting and buying can be over a lifetime several million pounds. Repeat, several million pounds.
You may want to buy a property off-plan, before it has been built, in the hope that its value will increase by the time it is built. But there is never any certainty that will be the case and if that is your reason, you are playing with fire.
People are becoming homeowners later than ever – if they are becoming homeowners at all. All the talk is about young people moving away from homeownership – out of choice.
We are being told all the time that millennials (people born between 1981 and 1996) are not into house buying for “lifestyle reasons”. Is that even true? If it is, those millennials are being seriously reckless about their future.
At the very time when fewer and fewer people are able to afford home ownership, the future for tenants seems far from bright… in fact it seems very worrying.
It is not just sensible to buy a property with someone else, it is smart and can save you a ton of money, time and effort in many cases. When it comes to property buying, two is often better than one.