Buying vs renting: Benefits of owning a home

Thinking about buying your first home? You might be wondering what the benefits of buying vs renting really are. Are they that different? Is it worth investing in a house you own instead of paying rent?

The short answer is yes, since there are so many benefits of owning a home vs renting one! Renting can give you flexibility when you need it, but for many people, buying a home comes with far greater rewards, including financial security and the freedom of making a place truly your own.

If you’re currently weighing up renting vs buying, we’ll walk you through all the advantages of owning a home to help you make the choice that’s right for you.

Module 1 image Module 1 image
Left side image

Financial advantages of owning a home

One of the biggest advantages of owning a home is the financial benefit it can bring over time. When renting, payments simply go towards your landlord’s mortgage or income. But with home ownership, mortgage payments contribute to something that belongs to you. Each monthly payment helps build equity, giving you a valuable long-term asset.

Monthly mortgage payments are often similar to, or even potentially smaller, than any rent you would have to pay in the same area. A study by Canopy found renters spent 36% of their income on rent in 2024. Meanwhile, homeowners typically only spent around 18.7% of their income on their mortgage.

A fixed-rate mortgage also means your monthly costs are predictable, so you can plan without the worry of potential rent increases. Plus, if your home gains in value you could profit upon selling it in the future.

Put simply, one of the biggest benefits of owning a home is knowing your money is being invested in your own future, not someone else’s!

Avoid hidden costs of renting a house

On a surface level, renting can seem more straightforward than buying, but the truth is, there are many hidden costs of renting a house that quickly add up.
 
Rent can increase year after year with inflation, leaving you with higher monthly bills and not much you can do about it. There’s also no guarantee your landlord will renew your contract, which means you may be left needing to relocate unexpectedly.

Renters often also must cover additional costs like high deposits and letting agent fees. All these payments are non-refundable and offer no long-term return.

In contrast, buying a home gives you far more clarity over your finances. While there are upfront costs, they contribute directly to an asset you own. Over time, the benefits of owning a home vs renting become even clearer as your outgoings stabilise, while renters continue to face rising costs and uncertainty. So, why rent when you can buy and secure your costs instead?

Right side image
Left side image

Freedom to make your home your own

Another huge advantage of buying is the freedom it offers. When renting, there are usually strict limits on what you can do: no painting walls, no major DIY, restrictions on pets and very little control over how the property looks or feels.

Owning a home, on the other hand, gives you the freedom to create a space that suits your lifestyle. Need to put up a shelf? Go for it! Want to plant new flowers in your garden? Sure! Your daughter wants you to paint a wall bright pink? Why not? 

Buying gives you full creative control (within reason), which is one of the most enjoyable benefits of owning a home. 

In fact, a study by the HomeOwners Alliance comparing renting vs buying found 91% of homeowners feel their home contributes to positive wellbeing, compared with only 79% of renters.

Long-term stability and security

Stability is also a huge factor when considering renting vs buying a home. As a homeowner, it’s you who’s in control of how long you stay in your property, rather than a landlord or contract renewal date. This gives you peace of mind when planning your future, without needing to worry about moving because your landlord has decided to increase the rent or sell the property.

Owning a home also offers a sense of belonging that renting rarely does. You can become an active member of the community around you, really get to know your neighbours and potentially make friends for life!

Right side image
Left side image

Modern options make buying more accessible

A lot of people assume buying a home requires a huge deposit or perfect financial circumstances, but that’s not always the case. 

Modern mortgages, competitive rates and tailored support mean there are more accessible routes onto the property ladder than ever before. For example, there is a range of schemes available to help you buy, like the First Homes scheme and our first time buyer fund.

It's worth exploring the support available to make homeownership achievable to help you decide between renting vs buying.

Start your journey to homeownership

When you weigh up your options, the long-term advantages of owning a home are clear. Homeownership offers advantages that renting simply can’t match, including financial stability and the freedom to create a home that truly reflects you.

Ready to experience the benefits of owning a home vs renting? Click here to discover your dream home with Avant!

Right side image

Our locations

Our locations
Angus Ayrshire Barnsley Bradford Burton On Trent Chester-le-Street Chesterfield County Durham Derby Derbyshire Doncaster Dundee Dunfermline Durham East Kilbride East Lothian East Midlands Edinburgh Fife Glasgow Huddersfield Kettering Lanarkshire Lancashire Leamington Spa Leeds Leicester Leicestershire Lincolnshire Mansfield Market Harborough Middlesbrough Midlothian Newark-on-Trent Newcastle North East North West North Yorkshire Northamptonshire Nottingham Nottinghamshire Preston Renfrewshire Retford Rutland Scotland Scunthorpe Sheffield Shropshire South Wales South Yorkshire Stirlingshire Sunderland Telford Wakefield Walsall Warwick West Lothian West Midlands West Yorkshire York Yorkshire
View all locations
Slider image

Buying with Avant

Why Choose Avant

About Avant

Customer Care

More

NHQC Avant Homes

www.avanthomes.co.uk is a site operated by Avant Homes Limited (”Avant”). Avant is registered in England and Wales under company number 03215228 and we have our registered office at Avant House, 6 and 9 Tallys End, Barlborough S43 4WP. Our main trading addresses are listed here. Our VAT number is 181 3492 62.

Website by MMS

© 2025 Avant Homes