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
3. You can keep things flexible
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.
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