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Originally Posted by Nodrog
Because it makes more sense than pissing away 5K ever year on rent that you wont get any returns on. If you were renting for 10 years then thats around 80K that youre losing in real terms, which is a decent bit of money.
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I'm aware of what the advantages are of owner occupation are in the long term, I'm just more curious why he wants to do start it a year after he's finished his degree. As Ste implies, will he know what he wants to do / where he's going to live for the next decade so soon after finishing Uni? His profile says he's 20 - will he know the path the rest of his life is going to take at 22*?
If so (and he can afford it) then good luck to him of course.
* = This is making it a bit melodramatic, obviously you could buy a house and then change your mind a year or two later without any major problems, but the benefits of owning really only start to kick in after a few years, especially if you have maintenance problems in the first couple of years (a lot of owners do).