Is it Good to ‘Climb the Property Ladder?’

We often hear about people ‘climbing the property ladder’ which means that they are buying more and more expensive properties. It is seen as a good thing and something that should be encouraged. However, it is well worth looking into this to find out whether it is something that you should be doing.


There are lots of advantages of getting a ‘better’ property. If the property is bigger, then there will be more room for you and your family, perhaps for you to put up guests or to receive visitors. You may also be able to afford properties in areas which are considered to be nicer where there are friendly neighbours or it is a location close to good schools, shops, public transport etc.

There is also a financial benefit in that houses are sometimes seen as an investment. If you put more money into a house, then it might give you a better return. Of course, you will always need to live somewhere, so it is unlikely that you will see the return on the money, but your children or anyone that inherits from you may benefit. You might be happy to invest in this way so that your children or grandchildren can have some money to help them in the future. They might even be able to sell the house, once you have finished with it and use the money to buy themselves a house.


If you keep moving house, you will end up paying out money for removals, solicitors, estate agents and things like this. This is money that you will not get back and so if you move a lot, it could prove to be wasted. If you buy a home that is too expensive, you might find that you will struggle to pay the mortgage and this could put your home at risk of being repossessed. So, if you feel pressure to buy a really expensive home, then you need to make sure that you are really confident that you will be able to make the mortgage repayments.

If you decide to go for a larger house with a garden then there will be more work to be done. You will have more areas to keep clean and tidy and a lot of gardening as well which will take up a lot of time. You will also have to pay to the house in good repair and with a larger property there will be more that needs doing.

If you tie a lot of money up in a home then you will not have it to spend on other things. You might be fine with this but if you want a holiday, new car or other luxury items, you might find that you do not have the money available.

As you get older and your family leaves home you may find it difficult to manage a large home. You may need to get a cleaner and gardener to help you to keep everything in order. This could be expensive and so you might need to go through the process of selling the house and moving to something smaller. This can be tricky if you have accumulated a lot of items and furniture during the time of living in larger and larger houses as you will have to get rid of some and decide what to get rid of.

So, there are advantages and disadvantages. You need to think about what you feel will be the best decision for you. Think about you own situation, what you can afford and do not feel pressure to keep moving if you are happy with where you are.

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