Buying a house

Abstract

Most people who set up home have to make the decision — buy or rent? There are lots of arguments and each person has a different set of standards by which to reach the answers. The man who buys his own house may tell you that it is the best investment he has ever made, for house prices have a habit of going up by 5% or thereabouts every year, and there is many a man now who bought his house for £3,000 some ten years ago and finds it is now worth £6,000. Of course, if he wants to buy a comparable house to replace the one he is selling then the new one will also cost £6,000, but he is still in a better place than the man who has been renting for ten years and only now decides to buy. The house-buyer also is master of his own affairs and is not at the mercy of a landlord to rule his life.