7 benefits of renting vs buying

05 Sep 2019

With years of experience in the lettings industry, we’ve helped hundreds of tenants find the perfect home to suit their lifestyle. 

In this blog post, we highlight some of the key benefits as to why renting a home can be better than buying a property. Read on to explore the different reasons ...

#1 Live in an area you love

Renting allows you to live in your dream area when house prices rule out purchasing a property there. You may also find there are more rental properties up for grabs in a specific area than properties for sale too, so you can be more picky with the property you choose. 

#2 You don’t have to sign a lengthy mortgage agreement

One of the biggest perks to renting is that you can say goodbye to worries or concerns about paying a large monthly mortgage fee. Buying a property is a huge financial commitment and there’s a lot of pressure to save up a hefty deposit to secure your mortgage in the first place. 

#3 Steer clear of large maintenance costs

The beauty of renting is that if something goes wrong in your home, such as a roof leak or a broken boiler, then the landlord is responsible for correcting this. You don’t have to worry about unexpected large repair bills coming your way as a tenant. 

#4 A property must be a safe standard

You benefit from landlords putting in place regular safety checks to ensure it’s safe for you to occupy it. A property must have a gas safety certificate, an energy performance certificate and feature working smoke and carbon monoxide alarms. These are things you may not consider if you’d bought the house yourself that could put your health in danger.

#5 Bills could be taken care of

Some landlords will include bills in the price of your rent which means you have the benefit of knowing exactly what is being paid out each month, giving you better financial security. 

The landlord may even pay for the home you live in to have unlimited WiFi - bonus! That means you can stream Netflix as much as you’d like and play online games without worrying about extra charges.

#6 Be as flexible as you’d like

Always on the move? Does your job require you moving around a lot? Well renting could be the best option for you. It’s a flexible way of living. You’re not tied down so you can have a change of scenery every so often rather than having to stay in a home you’ve bought for a long period of time.

#7 Last but not least… freedom

It might not be that you’re not ready to commit to a home. It could be that you’re not ready to commit to a person. Many people rent when in a new relationship to trial-run living with their partner before they dive into a 30 year mortgage. This isn’t a bad idea and can save a lot of headaches further down the line!

Do you have any questions about renting?

Get in touch with our team on 01482 562562 and we’ll be happy to help. Check out the homes we have to let here.

Posted By

Alice Thomas

Other posts by me

Rated 5 stars on Google
by our customers

Talk to an Ultralets
team member

Or call us on 01482 562 562