Why Renting is Better than Buying for Some People

When it comes to finding somewhere to live there is always a decision to be made about renting versus buying. Obviously, most people want to own their own home at some point, however, for some people renting is the better option. We look at the reasons why you might prefer renting over buying a home.

The Expenses

Owning a home is expensive. If something goes wrong in your home, it can cost you a fortune to get it fixed. Whether it is repairing a leaking roof or replacing the boiler these can be huge expenses for a homeowner. Even if nothing is going wrong at the moment, you know that you need to keep saving just in case it does. All these problems go away when you rent because they become the responsibility of the landlord. This means that anytime there is a problem you can just pick up the phone and let someone else deal with it.

You Don’t Need a Huge Amount of Capital

Buying a home is expensive, particularly when it comes to the deposit. You need to have a large lump sum to be able to put into your home when you purchase, at least 5% of the total value. Whilst you need a deposit to rent, it is normally only one- or two month's rent. So, if you don’t have the backing of a lot of savings then renting might well be the only option that is open to you. Whilst there are schemes that help people get deposits covered, these can result in you having to pay higher mortgage prices and so you need to consider them carefully.

You Have More Leverage in the Job Market

If you are renting a property, then this can make it easier for you to move around and look for a job in other places. This can mean it is easier for you to move up the corporate ladder and take advantage of your skills and experience in getting a good salary. Some companies will offer help with relocation expenses and this can make it really cheap for you to find the right job, rather than feeling stuck within a job because you can’t sell your home.

It Gives You More Flexibility in Life

Alongside being able to move for a job, there are other reasons that might want to cause you to move homes rapidly. If you meet your perfect partner and they are in a different city then, if you rent this makes it easier to move closer together rather than if you own your own home. It can also be useful if you are away from your family and you want to move back closer, maybe to take care of an elderly relative. Finally, you might just fancy a fresh start and be able to go anywhwere you want!

Get in touch with us

First Name

Last Name

Your Email Address

Mobile Phone

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as products and services. (You will always be given the right to unsubscribe at any point in the future)

Confirm

What to Check Before Renting a Property

Renting a new home can be an exciting fresh start—but it’s important to know what you’re getting into. Whether you’re moving into your first rental or switching properties, understanding what to look for can save you stress, money, and future headaches. Here’s a detailed guide to what every tenant should check before signing on the dotted line.

CLICK HERE >

Moving day made easy: Expert tips for a smooth transition

Moving day doesn't have to be stressful. With the right preparation and mindset, you can turn this big task into a manageable one. From packing essentials to coordinating with movers, our expert tips will help you navigate the day with confidence and ease. Let's make your move as smooth as possible.

CLICK HERE >

Navigating the Sale of a Probate Property

The sale of a property that forms part of an estate, commonly known as a probate property, requires careful handling and a clear understanding of the legal and practical steps involved. For many, this is an unfamiliar journey, often undertaken during a period of grief.

CLICK HERE >

First-Time Buyer Mistakes to Avoid (and How to Get it Right the First Time)

Buying your first home is exciting - but it’s also a huge financial and emotional decision. As an estate agency that’s helped countless first-time buyers in South-East London, we’ve seen the same mistakes crop up time and again. Avoiding these early on can save you stress, money, and potential heartbreak.

CLICK HERE >