Living at Home or Away? Starting University

Recently finished your A-levels and pondering which University to choose? You will have many choices to make at this time, including whether to go away to University or to attend University closer to home. Read our guide to find out what may be the best solution for you…

 

Decisions, Decisions

It is important that you don’t rush into making a decision when choosing which University to attend. Often the best advice will come from the school or college you have just finished at, so it is important that you keep in touch with them over the holidays in case you need some advice. Many students decide that their wish is to go away to University, in order to sample a new lifestyle away from their parents. After all, studying at University should be fun and you should enjoy your time, especially making new friends and enjoying the lifestyle associated with being a University student. There is plenty to do at University so you should make the most of it, with plenty of activities to partake in such as sports and social clubs in addition to a great social life.

 

Why should you consider going to University closer to home? The simple answer is that you won’t  have to take on as much student debt with having to get student loans for accommodation. Therefore, if you were to attend University closer to home you could instead look at getting onto the property ladder. As there are many initiatives available, purchasing a new home is getting easier, with shared equity schemes such as the HomeBuy Direct scheme.

 

Buying your Own Home

The HomeBuy Direct scheme is a shared equity scheme aimed at getting people onto the property ladder. This scheme offers brand new homes for sale on a part buy/part rent basis. There are a number of new homes available through housing associations, where you can buy shares worth between 25% and 75% of the property’s market value. This is done by you paying a subsidised rent on the remaining share. You do however need to raise a mortgage to purchase your share, or if you have a large deposit, you can use this towards purchasing your share of the property.

 

About the author: Arthur Sperks writes a number of articles on new homes and living in the UK.

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