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Rent vs Buy: The Benefits of Renting

For very long leasing in the UK is living under a smog of negativity. In the great’ rent vs buy’ debate it is observed as the fallback alternative; the sole choice you’ve left when you cannot pay for to purchase a house.

And significantly, it’s additionally never seen as the long term choice. To buy is definitely the long term goal, whereas renting is viewed as a concern to be borne till you are able to preserve which eye watering deposit to buy a home.

Whilst ownership may be an extremely great place to wind up for a few, it should not be forced upon all people as the one worthy destination.

And renting should not be observed as’ dead money’, as you will find many good things about renting a horizontal vs purchasing one.

The Great things about Renting

Foremost and first, renting provides flexibility that buying just cannot match. Majority of rental contracts are 12 months long, meaning – in case they wanted – renters might property surf each year.

This provides you with the flexibility to test brand new regions of the community, new apartment sizes and layouts (or perhaps a house), different decor as well as various price points to locate a better way and a house of living that is ideal for you.

And in case you wish to move jobs, rather than making do with a hard brand new commute, you are able to simply move to a brand new pad.

In case you chose to go travelling for six weeks, you are not hamstrung by the necessity to maintain paying a mortgage. You are able to hand in the notice of yours and get on the airplane.

We embrace & celebrate this flexibility and ensure we do all we are able to to allow for the residents of ours because of their changing needs. We provide them with the freedom to upscale, downscale or perhaps move between the advancements of ours without charging a penny of costs.

With buying, you just would not get these chances. Selling or buying will often take weeks (or years…) indeed things move a lot more slowly. And you will be also required to shell out thousands to costly estate and solicitors agents for the experience of theirs.


Secondly, renting can provide you with a chance to access a better quality home than you can afford to purchase.

As a good example, if a purchaser and a renter went head-to-head in Islington equipped with an annual household income of £70,000 (double the typical London salary), and then usually you would discover that customers would struggle to uncover something liveable, while renters could pay for a big apartment completed to an impressive specification.

And build-to-rent takes the quality to the next level.

Take Vantage Point for instance. While each resident gets the own apartment of theirs completed as well as furnished to a higher standard, additionally, they all obtain access to the best penthouse floors. If perhaps we sold the penthouse, it will fetch a place in the area of £7m; nicely out of the cost range of virtually all London house hunters! Yet the renters of ours can hang out right here for free. And show it off to the close friends of theirs.


For instance, in case you have previously looked to buy a house in Bethnal Green, you will have seen some rather jaw dropping prices that average at approximately £536,000. This’s just outside of the access of a lot of people looking to purchase in London (unless you’ve £110k sat in the bank account of yours for a deposit of course), that implies buyers need to search even more out.

Renters do not have exactly the same obstacles. With typical rents in Bethnal Green at roughly £1,900/month (or merely £1,490/month for a 1 bed), that opens the spot as much as a broader pool of residents. These renters may subsequently take advantage of being within walking distance of East London’s famous Brick Lane, brilliant Shoreditch along with bustling Colombia Road Flower Market. They could go on the Central Line and also be on Oxford Street in mins. Or maybe they are able to ensure that it stays local and take pleasure in the assortment of trendy cafes, bars as well as restaurants which Bethnal Green is offering.
More effectively budgeting

Renting also provides better economic security through constant spending. You understand what the rent of yours is going to be every month. If perhaps the landlord of yours manages the utilities of yours for you as we do, you realize what your electricity, other home costs and water are going to be. If you are living with a build-to-rent landlord, subsequently the high speed broadband costs nothing to make use of.

What is more often, the majority of excellent landlords provide long-term tenancies. We provide up to 3 year tenancies. What this means is that renters also can benefit from long-range consistency, with rent house expenses pre planned and guaranteed for the length of the tenancy.

What this means is that renters understand precisely what is coming from their account every month, plus they can budget their disposable income to fit the majority of the life of theirs.

For homeowners, nonetheless, it is more or less not as simple. Whilst the mortgage of yours remains regular (and service charge in case you reside in a block of flats) you can get different unforeseen expenses which are simply parcel and part of having the own spot of yours.

Consider the dreaded boiler breakdown for instance. Whenever that took place for Union Wharf, the in house upkeep staff of ours will be switching it with the spare from the cellar immediately – and at the price of ours. For a household, the bill lands at the legs of theirs. A bill which (on a great day) can be approximately £2,500.

And also the maintenance costs do not stop there. Additional typical bank balance offenders in a home include:

Broken washing machines or any other white goods
Water leaking or mould damage
Blocked guttering
Cracked windows
Obstructed toilets
Leaky pipes & taps
Blown light bulbs

And also the list goes on! Suffice to claim that in case you deal with a great landlord that tackles the upkeep of the property in a prompt manner and at the cost of theirs, you will be saving money.