There are many different reasons for renting a property instead of buying a home!
Rental can be a permanent choice or be a temporary option.
For instance a young professional moving to a new job maybe not wanting to commit to a permanent address. Possibly a couple whose chosen career allows them flexibility to move frequently or even temporary relocation to a new job working away from home.
Not wanting the responsibility or the burden of upkeep of a property, then renting is your option. When renting, it’s the landlord’s responsibility to look after all repairs and maintenance.
Maybe the family home is sold and you’re not quite in the position to move to the new property? This is another advantage with renting.
Needing temporary rental accommodation? Accommodation of this type is readily available on the market to facilitate families as well as singles.
You have the advantage of rental as a stop-gap between houses and it’s a good idea to rent in the area you have chosen to move to - especially if you have children of school age – they can start their new school, settle in, make new friends and as a family become familiar with the new area. For parents, having the children settled and happy is one problem less to be concerned about.
Other people choose to rent because they don’t want the commitment to a mortgage. There is more flexibility to move on without the chain scenario of buying and selling.Or there is the option of taking on a rental in the area you’re thinking of moving to, possibly renting and living there for a while before making the commitment of purchasing.
Sometimes family circumstances change and renting is the only option available. There are many rental properties to choose from to suit every individual need. Whether it’s a family home big or small, an apartment, cottage or terrace – there’s plenty of choice.
Thinking of selling and possibly downsizing or releasing equity by selling your home? Moving to a rental property with very little cash commitment, virtually no responsibilities, no worry by way of repairs or maintenance costs - renting is an option to seriously consider for future peace of mind.