Renting isn’t for everyone… and it doesn’t have to be forever (in fact, one of the best things about renting vs buying a house in the freedom to change your mind when the mood strikes!). However, there’s a lot to love about renting a property.
Here are our top ten reasons why renting can be better than buying…
Is your heart set on big city living? Fancy a penthouse flat looking out to sea? Sometimes our property dreams don’t match our bank balance… but deciding to rent rather than buy can sometimes make dreams come true. You may not be able to afford the huge deposit and mortgage repayments on a particular property in a desirable location, but shift your search to the rental market and you could find yourself living somewhere you love.
Renting a house gives you the flexibility to change your mind whenever you like. You’re not tied to the property, so live there as long as you need or want without the hassle and expense of selling when you decide to move on.
As a tenant, repairs and maintenance are not usually your concern. Your landlord also has to make sure the property is safe and get checks carried out, so you should be confident all this is taken care of before your arrival.
Utility costs for rental properties are usually lower than you might otherwise face, which leaves more money in your bank account at the end of the month.
The need for a deposit is often the biggest hurdle for first time buyers. By renting a house or flat instead, you save yourself a huge amount of money… and probably avoid quite a big budgeting headache!
When renting, you not only avoid the ties of a mortgage but can be reasonably sure what your outgoings are going to be each month. It’s easy to budget and you’re less likely to have sudden big bills. If the boiler breaks or there’s a hole in the roof… it’s usually the landlord that has to find the funds, not you!
You’ll find that the cost of insurance is cheaper when renting vs buying a house, especially as your landlord should have their own insurance in place, too. All these little (and sometimes big) savings really add up.
A perk you sometimes get when renting a property is shared facilities that you don’t have to directly look after. Lots of apartment buildings have swimming pools and gyms which make keeping fit luxurious, convenient and cheap!
Instead of investing in a property, free up your cash by renting a house and invest in something completely different. Follow your interests and spend your money on the things you love.
Renting a flat or house means you don’t have to worry about the value of the property going up or down. While homeowners may have sleepless nights concerned about the property market, you can sleep soundly.
We’re sure you’ll agree: there’s plenty to love about renting a property! At Charters Estate Agents, we help countless tenants find the perfect rental place. Whether you’re thinking of renting a flat or house, we’re here to help.
Our knowledgeable, local teams have years of experience and will be happy to answer all your questions. Please pop into your nearest branch or get in touch, today.
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