New research has been carried out by the Halifax which indicates those who buy a property rather than renting one will save an average of £742 per year. The research also found that in 2014, the number of first-time buyers in the UK increased by around 22%. This rise in numbers could be attributed to a number of factors including the Help to Buy scheme.
However, although in the long term purchasing a property may work out cheaper, renting a property has its own benefits which make it the preferable option. When you are renting a property you have more freedom and flexibility to move without having to think about selling the property, making it the perfect choice for those whose career takes them to different locations or who are simply not ready to settle down in one place yet. There is also the added bonus that when you are renting a property, your landlord or their property management company has responsibility for repairs and maintenance so you do not have to worry about issues such as these.
When you are considering moving into a new property, there are many different factors to think about, and deciding whether to rent or buy is one of the most important decisions. It will all depend on your individual circumstances and goals for the future. If you are in search of a home in London, whether to rent or buy, we are the lettings agent in Haringey you can trust to help you make the right decisions and find a home that is right for you and your needs.
With our in depth knowledge of London’s property market and a host of different properties available to browse on our website, we aim to make the process simple for you and work hard to ensure that both landlords and tenants are completely happy with the service we provide.