Credit Crunch! The Benefits of Renting

The current market conditions make it difficult for the First Time Buyer (FTB’s) to get on the property ladder.

 

In my mind they povoke tow important questions

 

  1. Why do we need to own a house?
  2. Why do we need to own the house we live in?

 

A rethink in how you can use your money what you own and what you live in maybe useful for many people and families.

 

Buying a house in another area may actually mean that FTB’s can afford to buy and benefit from the property ladder………just not live in it themselves.

 

A rethink in how you can use your money what you own and what you live in maybe useful for many people and families.

 

Renting offers many benefits;

 

  • Predictability of annual costs; more accurate budgeting
  • If your job takes you to a new location you can move quickly
  • If your family numbers grow or reduce you can up or down size quickly
  • Move quickly to reduce your outgoings
  • A wide choice of houses and apartments in various sizes in most locations
  • Better value for money
  • Renters are protected now more than ever. Tenants rights and responsibilities are covered here at the UK central government website: https://webarchive.nationalarchives.gov.uk/20080906183759/http://www.communities.gov.uk/housing/rentingandletting/privaterenting/tenantsrights
  • Wide choice of properties.
  • Landlords have to invest to make their properties attractive to prospective tenants. 
  • Length and security of tenure can be negotiated with landlords or their lettings agents. Spend time thinking and be clear about what you want. You will then will find most landlords will be cooperative and welcome polite discerning customer (tenants).

 

Chose your landlords and lettings agents carefully. Don’t just choose the property and forget to ask the landlord or agent some key questions. The recent issue with Keyhole Property Management Ltd is a classic example. Be confident and ask searching questions. If the landlord or agent is unable to answer perhaps you should look for a different property.

 

So renting can open up new opportunities enabling faster and more flexible solutions when dealing with today’s fast changing demands and lifestyles. It does not mean you are not on the property ladder or able to benefit from future capital growth the UK housing market may have to offer.

 

If you would like more information or would like to arrange time to review how renting could work for you or your family call us on 01733 321500 or you fill in our property lettings contact form.