These days there are a lot of options to choose from where you want to live. Do you want to build on your future by buying into bricks or rent a place to be free to move whenever you feel like it?
A lot of people advise you to buy your own place so you can invest for your later years. However buying a house or appartment is not always the best thing to choose. The main disadvantage is that you are stuck to place you bought your house. If your next job happens to be far away you are forced to have a long drive instead of being able to move out to a closer location.
The advantage of buying your own place is that any payment or improvement that you do increases your future. You don’t have to bother with the owner of your appartment to send someone to do repairs, you don’t have to ask them for an agreement for improvements.
Quality of life begins at home – It’s in your street, around your community. – Charles Kennedy
The best moment when you should buy a home of your own is when you are ready for sticking around the same location and are prepared to cope with carrying the debt for buying it. This moment is for everyone different. An important factor in this is how your family situation is at the time. If you have a partner it can be easier to settle for an area. Because when one of the two is changing their job you aren’t likely to move area.
Making the decision to bind yourself also gets easier when you have children. You will want to have a stable community for your children where they can get to know the neighbours and the children that they can go play with. With children it is not ideal to constantly keep moving going from one school to another. This is one of the reasons why it is important to have your life set in order before you start thinking about children.
One last option that you have remaining is to be deliberately not going for a new location to live at. If you are lucky enough you might be able to stay with your parents for a bit longer. Enjoy their companionship while saving up for your own place in the future. There is no set and stone scheme for you to determine when to purchase your appartment or house. Take a look at your situation and do as you please.