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Why Renting is Amazing

The rent or buy debate is a pretty hot topic, especially since the government announced its plans for Brexit. It has always been a controversial topic with no simple answer but we want to put paid to the ever-present myth that buying is always better than renting.

At certain moments in your life it might not be the right decision to argue that that renting isn’t throwing away money, in the same way that buying isn’t.  So we’ve come up with a list of 9 reasons why renting might just be the better option for you.

1. No large down payment

Buying a house with mortgage requires a considerable down payment, which does not compare with the usual deposit required for renting. 2. No maintenance costs or repair bills

When renting, usually the landlord of your property has the responsibility of maintaining the property, meaning that you don’t have the financial responsibility for the repairs.

3. You can keep things flexible

If you’re renting, you have the flexibility to move houses or areas at the end of your current tenancy, whereas buying a house usually means being tied down for a number of years.

4. Invest on your own terms

Choosing not to to invest on your own property right now, opens opportunities for saving and investing when it right for.

5. Enjoy being mortgage-free

Certainly mortgaging comes with certain responsibilities — there’s nothing wrong with leaving care-free for just a little bit longer!

6. Choose cool neighbourhoods without the price tag

Urban living in trendy neighbourhoods are usually renter friendly.

 

7. Insurance

Renters insurance is typically much less compared to the insurance homeowners need to pay.

8. Decreasing property value

Property values go up and down over the years, depending on the area you live, or economic circumstances, and while this affects homeowners in a massive way, it does not affect renters substantially (at least not during the fixed term of the tenancy agreement)

9. Fixed rental payments

Rental payments are fixed over the term of the tenancy agreement, making it easier to fix your budget

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