Should I buy a house?
Buying can create stability and long-term ownership, but it also commits cash and reduces flexibility. Compare the whole decision rather than focusing only on the mortgage payment.
Check affordability honestly
- Deposit and buying costs
- Mortgage payment at a rate you can realistically absorb
- Insurance, maintenance and unexpected repairs
- How stable your income and plans are
- Whether you still have an emergency fund after buying
Compare buying with renting
Include the full cost of ownership and the value of flexibility. Renting can be sensible when your location, work or household plans may change.
Stress-test the decision
Ask what happens if rates rise, income falls, repairs arrive or you need to move sooner than expected. A good decision should survive reasonable downside scenarios.
Work through my home decision