3 Great Advantages That Renting a Property Has Over Buying In The UK.
People are always telling you not to rent, but buy and for those who have the necessary job security and the funds to come up with a substantial deposit, then that may be true. However, getting onto the property ladder in the United Kingdom can be difficult and then, when you get your property, there are the general maintenance fees that mount up to the thousands of pounds every year. Renting is so much easier and you get to live in the home that you like for as long as you like. If you don’t like it, then move.
If you are looking for property to let in Portsmouth, then there are a number of rented properties to choose from and they offer up the following benefits.
- Renting is fairly quick and easy and there isn’t all the paperwork required like for a mortgage. A reference from a previous landlord and the first and last month’s rent and you are all set to move in.
- If you want to buy a house in the UK, the lending bank or building society will want at least 10% deposit of the total mortgage. When renting, 2 month’s rent and a deposit are all that is required.
- If anything breaks in the house that is not your fault, then you have no bills to pay. You contact the property management company and they bill the owner for any work done on the property.
Renting is a great way to get a feel for the type of property that you want and the location. Once you find somewhere that you like, maybe you can start to think about buying.