Having your own home is often the dream that spurs you on to work harder and save harder. The goal of laying down a deposit and picking up the keys is the reason why you sacrifice expensive meals, nights out, a new car and holidays abroad.

But you might also have a nagging doubt in the back of your mind asking you if all this is worth it. If, in fact, those savings could be used to enjoy yourself with and have a little bit more fun.

If you’re unsure whether owning your own home is really worth the sacrifice and all that saving, then we give you three good reasons why you should press on with saving up for your deposit in this blog.

Long Term Investment

You’ve probably told yourself this over the years, but when you’re paying rent it really is money in someone else’s pocket. The thousands you’ve spent paying for a roof over your head. A roof that you’ll never own and can never be sure is going to be sold from underneath you. You’re answerable to someone else, limited on how much you can decorate and never really feel like you’re truly settled.

Consider a mortgage as a loan for a long term investment. Eventually that loan will be paid off (you might even be able to make over payments to get the loan down quicker) and then that property is yours to do with as you see fit.

Get the best mortgage deal you can find, from lenders such as 1st United Mortgage and get your foot on the ladder. Every month you pay is a month closer to that home being yours forever.

Cost Effective

While it’s harder to get on the property ladder than renting, once you’ve laid down that deposit and have the mortgage repayments set up, you might find that your overall costs actually go down.

Often repayments come in cheaper than rental payments and besides which you have control over other areas of your house too. You can decide if you want to make your property more energy efficient by installing insulation. You can upgrade your heating system, replace drafty doors and windows – jobs that a landlord might take weeks or even months to get around to doing.


Finally, owning your home gives you options. It can be yours to live in or sell on but you might also want to draw some income from it. If you live alone and have a spare room then renting it out is an option. You might even rent out the whole house to cover your mortgage and more if that helps you out.

That saving scheme you’re on is going to pay off. Don’t give up the dream of owning your own home, push ahead and lay down as large a deposit as you can to get that loan rate down and finally own the keys to a home that’s well and truly yours at last.