In today’s chaotic housing market, you could be forgiven for thinking that there is very limited opportunities of moving into your own property.
With the sheer lack of affordability in the home sales market, a growing number of people in the UK have turned to renting. In urban centres throughout Great Britain, up to a third of the population uses rented accomodation.
So with a vast amount of people turning to rented accomodation, why does a negative stigma seem to associate itself with renting?
Here are just some of the benefits to renting your own home:
- Flexibility - in an unpredictable and ever-changing world, flexibility is the top of a lot of people housing wishlists. Long term tenancies now start from as little as 6 months so if a change is what you need, there will be no agreements tying you down.
- Location - as a tenant, there is a possibility of renting a home in a location that would otherwise be too financially challenging to buy.
- Easy nature - moving out for a tenant is far more straightforward than for a homeowner - there is no stress of finding someone to take over the lease, or finding a buyer to purchase the property. All of these tasks are the responsibility of the homeowner or the landlord.
- Savings - as a tenant, the primary cost is to pay the weekly or monthly rent. After this, an individual may have extra disposable income to invest elsewhere. These savings could go towards buying a house, investing in stocks and they will not need to worry about having to put additional funds into a home loan.
- Insurance - the only insurance required by a tenant renting a home is to cover the goods within the home. All maintenance work on the property is for the homeowner’s account along with the homeowners insurance - this means that maintenance issues should be dealt with by the landlord.
Regardless of your circumstances, here at Iceni Homes our goal is to create affordable homes for all. Whether you’re looking to buy or rent, we produce homes that will suit you personal circumstances, one thing that doesn’t change, is our desire to build affordable homes for all.