Don’t despair if you’re struggling to get on the property ladder and are put off by negative associations with renting. Let’s take a look at five more benefits to being a renter.
It’s easier to upsize
Buyers will have a far harder job ahead of them if they want to upsize from a smaller property if their circumstances change, for instance, if a baby comes along. It’s an easier prospect to hand in your notice and rent a larger property without worrying about selling a house, timing the purchase of a new one, or juggling mortgages.
It leaves room to grow
The money saved from not purchasing a property means you’ll have the flexibility and choice to invest in other endeavours as you please. The potential wealth of options and freedom from not being a financially committed homeowner could allow you to return to study, start a business, save money to travel, or invest your money in a new venture.
There’s a world out there to explore
Research suggests that over 500,000 Britons move within the UK each year for employment – http://www.jobsite.co.uk/worklife/time-relocate-skills-family-house-prices-affect-career-move-12809/. Or perhaps you want to travel, or explore what other cities have to offer. It’s also easier than ever before to research potential rentals online, such as if you wanted to search for property management in Dublin http://clients1st.ie/. Not being tied to a house or a mortgage means that relocating is a far easier task.
Leaky pipes aren’t your job
One big perk, especially for those who aren’t DIY buffs, is that leaky taps or a broken boiler get reported to the landlord. He or she should take responsibility for the upkeep and fixing of such aspects of the property, saving you the hassle and the money.
Freedom from mortgage nightmares
Many will take out a mortgage to get on the property ladder, with a minority being able to afford a property outright. A mortgage can be useful and a property can be a fantastic investment, but the financial implications can give you a headache for years to come. Keeping up with repayments, fees from agencies, taxes and mounting interest means that debt is a constant source of stress for most homeowners. Renting avoids these downsides and can allow you to be smart with your money, saving and investing as you go.