Renting vs Buying a Home
Buying is not automatically the better answer. The right choice depends on how long you plan to stay and how stable your income and location are.
Monthly cost
A mortgage payment is often lower than local rent, but ownership adds buildings insurance, maintenance, ground rent and service charges on leasehold flats.
The break even point
Buying costs several thousand pounds up front. Most purchases need three to five years of ownership before those costs are recovered.
Flexibility
Renting lets you leave on a couple of months notice, which is worth a lot early in a career or when testing a new area.
Long term equity
Owners build equity as the balance falls. Renters can match that outcome by investing the difference, but only if the difference is genuinely invested.
Planning a move?
BlueSky Removals gives fixed written prices after a free video or home survey. Call 0800 090 3125 or request a quote online.