There is a common belief in Britain that you haven’t made it until you own your own home. Well, here at Åben Living, we think that’s dumheter!
In fact, we believe there are plenty of advantages to renting a home instead of buying one.
To start with, if you own your home and one day you decide to move, there’s no knowing how long it will take to sell your home and find another to buy. On average, the time it takes to move if you’re selling/buying is about 22 weeks – that’s nearly 6 months (if there are no hiccups).
Renting means you’re only tied in to a 12-month tenancy agreement, so you’re free to move at the end of the agreement by just giving 1-months’ notice. Renting might be for you if you don’t yet know where you want to live, and want to try out multiple locations or areas before committing to buy.
Low maintenance costs
If you’re a tenant, your landlord is responsible for the upkeep of the property. So, if your boiler breaks, you don’t have to worry about the cost of a new boiler. You just contact your landlord and they will sort out and pay for any repairs.
No massive deposit to save for
To buy an average home in the UK, first-time buyers will need to save a deposit of around £33,000, which makes buying a home increasingly unaffordable.
If you decide to rent a home however, you will typically need just 6-8 weeks rent as a deposit, which you will receive back at the end of your tenancy agreement.
House prices, what house prices?
One of the things most home owners worry about is the value of their house. If the economy takes a turn for the worse, then thousands of pounds can be wiped off the value of a property.
If you’re a tenant, then you don’t have to worry about the value of your home dropping and leaving you in negative equity and unable to move.
Home owners need to plan their monthly expenditure very carefully as there are multiple bills and utilities which need to be budgeted for.
If you rent from a company such as Åben Living, then all of your bills for energy, water, broadband and more are included as part of an all-inclusive rental payment. Leaving you with less worry, and more time to enjoy your home.