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Buying a New Build (Newbuy)

cloudy11 · 2013-04-17 10:22:40

Hi everyone I am hoping you can help me and my husband get a little perspective on us potentially buying a new build home with the Newbuy scheme. Although we have done our research pretty thoroughly, buying our first house is pretty daunting and we seem to be going around in circles. The property is a 3 bed detached (we…

Comments

OddballJamie Posts: 2,660 Forumite

17 April 2013 at 3:15PM

cloudy11 wrote: »

Thanks for your help both.

I can't help thinking that even if the property does lose value, we might not be in any worse position than if we continued to rent for 5 years and then had nothing to show for it at the end. I hate the obsession with home ownership (and never thought I would be looking to buy a new build), but renting just seems so unstable and expensive anyway. Our rent is currently about £9k a year, which just seems such a waste when viewed over 4/5 years.

I felt the same before I bought a house, however it's easy to forget that a big chunk of my mortgage payment each month is interest
However one day I won't owe the bank anything

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