I wonder why it is that we all place so much importance on buying our own house?

In other European countries most of the population just rent an apartment but in England we seem intent on owning our house, flat or bungalow. I’m not sure why this is really. If we decide that we want to actually buy our home then it automatically creates several problems. There is the constant worry of whether or not we are going to keep up with our mortgage payments and any repairs that need to be done are suddenly our responsibility.2

If you have a decent landlord (or local authority) then they will always ensure that your property is kept in good order. Surely this is better than having to fork out for things yourself? If we are talking about replacing a broken electrical socket then it is not a big deal, but what about when your immersion heater packs up or the roof needs retiling?

Why are we prepared to take on all of this extra hassle just so that we can say; ‘This is my house and it’s all bought and paid for’? By the time that most people have finished paying for their home they are not that far from retirement! Is it all worth it?

When you have paid for your home the only two advantages I can see, are that you have no more rent to pay and you are able to leave your property to your children (if you have any). So what? You will soon become accustomed to being a little bit better off and it won’t make that much difference. If your children inherit the property, then what are they going to do with it? They have probably got their own set of ambitions and they will end up putting it back on the market…