Everyone dreams of buying a house, but skyrocketing prices have raised the dilemma of whether to buy or rent. The decisions that individuals take will likely differ based on their financial situation. Those who can afford to tend to prioritise buying a house over renting. But, a lot of the population currently don’t have the rights right now to put down a deposit. As a result, renting has become a more attractive option and it does come with some significant advantages.
Living in rented accommodation is an economical option for those who can’t quite yet afford to purchase their own home. Increasing expenses have never been at an equilibrium with the wage rate meaning that buying a home often comes with exorbitant EMI rates, this is not the case for renting. As a result, renting is a more cost-friendly option for more and more people nowadays.
While living in a rented apartment, you do not have to worry about maintenance or repair costs. The responsibility for maintenance and repair is fully that of the landlord. If there is damage to their rented property, the resident should raise the issue and allow the landlord to fix it.
Renters can move around fairly easily but home owners are restricted to the area where they buy. This means if a renter’s circumstances change, they can move to a different area far more easily than a homeowner could.
For the very best deals, regardless of whether you are renting or buying, contact us today at Freeman & Gray. We have over 30 years of experience in the property industry so you can trust us when it comes to helping you choose your new home.