Owning your own home makes financial sense

Owning your own home makes financial sense, according to new research.

According to findings from the Intermediary Mortgage Lenders Association, homeowners will be much better off than renters in the next 30 years.

The IMLA has reported that today’s average homeowner could be £352,000 better off than someone who is paying an average rent for their home.

This extraordinary figure reinforces the message of just how advantageous it is to buy as opposed to renting privately, and if there is any house price inflation over the next 30 years, the financial advantages from owning could be even higher.