Is Buying a Home Still Worth it in 2019?

Buying a house is a big financial goal for many of us. We know that it might be a long time away and that we’ll have to save a lot of money, but we feel as though it’s what we should do. Our parents own their house, other older relatives own homes, and we hear a lot about the importance of getting onto the property ladder. But, we also hear a lot about how hard that first property purchase has become. We know that we are less likely to buy a home in our twenties or even thirties than our parents were. We are aware that many people in our generation will spend their lives renting.

As millennials, we know that house prices today have far overgrown inflation, and that while our parents could buy a home with a modest deposit, we’ll need to save at least a years salary to stand a chance, and that even then, our chances of securing a mortgage are by no means guaranteed. So, is it still worth it? Is it worth saving for years and years, while also paying out large amounts of money in rent? Is it worth solicitors meetings and time spent improving your credit score to secure a mortgage? Is it worth the stress of rejection, or of having offers turned down? Is it worth it to have a substantial mortgage debt hanging over you for twenty years, or more, as you try to navigate the other financial pitfalls of life? Probably, yes. Here’s why.


Owning your own home gives you a great deal more financial flexibility. For the most part, house prices rise over time, so if you ever wanted to sell, and move again, or even go back to renting, you’d be in for a large sum of money as your investment had grown. It means that it’s easier to buy another house in the future or access your capital if you need to. Owning a home also gives you greater options when it comes to borrowing money or making changes to your finances with the help of Evolution Money. You’ll never be broke again, you’ll always have options, even when times are tight. You’ll also have lifestyle flexibility. Want to travel the world for a while, list your house on airbnb to earn some cash. Rent a room to a lodger for extra income, or even rent the whole house out to buy another. You could turn it into a b&b, or start another home business. Owning a house gives you plenty of options that you wouldn’t have with a rented property. 

Long-Term Security

It’s far too soon to think about retirement, surely? Well, it might seem like a long time in the future, but it is coming, and the sooner you start to plan for your retirement, the more comfortable you will be. If you are still renting when you retire, and your income has stopped, you could struggle. A large amount of your finances will be being spent on rent. Then, what if you had to move into a care home? Having a house to sell can make that a more realistic and comfortable prospect. Most mortgage lenders won’t offer you a loan that runs past your retirement age, so if you want it paid off before you hit 65, it’s something to think about much sooner than you might like. 

Something to Leave Behind

If you don’t want to think about retirement yet, you certainly won’t want to be thinking about death. But, unfortunately, that’s coming too. Wouldn’t it be nice to have something to leave behind for your family? A property gives them something substantial that they can sell, or move in to. Something that will change their own financial future and provide them with some stability and safety. It’s a great thing to leave behind. 

Saving Money

Renting is expensive, and there’s very little control over it. Your rent can go up massively and frequently. Over your lifetime, you could spend a fortune in rent, and have nothing to show for it. It’s not a waste of money, it’s giving you somewhere to live, but it can limit your options to save. Buy a house, and even with a mortgage, every month you are putting money towards your financial future. Towards something that’s increasing in value, and is yours. 

You Can Do What You Want with It

One of the worst things about renting is that there’s a limit to what you can do with it. Your landlord might not want you to decorate, and you might not have any say in things like utility providers and services. Buy a house, and it’s yours. You can switch providers. You can decorate, you can even extend. Then, when you are ready, you can do it all again. You are free to be creative, to explore ideas, and to truly create the home of your dreams. 

Peace of Mind

One of the main benefits of owning your home is knowing that you do. You know that you’ve got a house to fall back on, options if your situation changes and whatever happens, somewhere to live. In an uncertain world, this kind of certainly is fantastic. It gives you peace of mind and can help you to take control of other areas of your life. 


It also gives you pride. If yourself and your achievements, and in your home. You can be proud that at a time where so many people are struggling to take a step on the property ladder, you’ve done it. You’ve worked hard and saved, and you’ve got something to show for it. This can be a significant confidence boost. Of course, none of this means that you have to buy. There are still many advantages to renting, and it very much depends on your own situation, both personally and financially. If you are happy renting, and it works for you, there’s nothing wrong with it, and you are always free to change your mind later on. 

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