Buying house in Britain

Most British people prefer to buy a house to live in rather than living in a rented flat or house. Owning your own home means that you can make changes to the house if you want to and also means that you can stay there as long as you want. If you rent a flat or a house there is always the possibility that the owner may decide to sell it, and then you are forced to move out.

Unfortunately the price of houses is increasing so much that buying your first home is becoming increasingly difficult. The cost of the average home in Britain is now £272,000. The most expensive place to buy a home is of course London. However, the price of property in many other cities such as Oxford, Cambridge and Brighton has also risen.

Although you can of course borrow money from a bank to buy a house, you still need to save enough money for a deposit and then to be able to repay the loan.