Why Should You Buy a Property?
By Ron Victor

House prices are sky-scraping but still you can enter the buying market. There are five good reasons you should think of buying a house.

Do you think property is an asset? It's simply not true. You buy a house so that you have a roof over your head. Whether the price of the property is going up or down should not affect you. As long as you like the house, you can make repayments and like the area nothing else really matters. The only way of making real money is you decide to sell the house at some stage and keep the profits or downsize and do the same. A growing proportion of people do downsize. According to a research, one in three house sales involve people selling up to move to a smaller property. Nearly 54 % of the people are selling their property because they are not able to pay mortgage amount and not because they want equity from their property as cash in hand. A further 15 % sell the property because they have split up from their partners. Some 20% are retirees over 60. They also plan to sell their property to clear all their debts. Only 12 % buy a smaller property and also have cash in hand which they often recycle it, giving their children a leg up the property ladder instead. Property is not a cash-generative machine. Even if people think it is, it will take nearly 20 years.

A house should be treated as a shelter and not as an investment , no one wants to buy a property whose worth is far less than they paid for it only a couple of years before. While buying a house you put most of the money that you have saved in your lifetime. Facts tell that property does not perform as well as shares over the long term but it does retain its value over the years. But still people purchase a home for their old age or to lead a hassle free life. The average UK property cost was