|
A current talking point across the globe is the economic climate and the ripples felt by its downturn. Falling property prices are one of the perceived problems of the predicted recession and the subject has been shrouded by a cloud of doom and gloom, regardless of whether you’re referring to the trends in Great Britain, Europe and indeed further afield. You may think falling property prices have led to more people now being able to afford a starter home and get their foot on the first rung of the property ladder. This is not the case simply because mortgages are now increasingly difficult to secure due to increased interest rates, which have pushed up the overall cost of property ownership. It may seem like there is no easy answer to the recent property woes but those in the know may advise you to skip the option of property ownership and look at renting your home instead. Whether you need a small studio flat just for yourself or a family home for five, the UK property rental market is as strong as it ever was and has in fact grown significantly in recent times due to increased demand. As fewer mortgages are now being secured, more people are turning to letting agencies thus stimulating demand for rental properties. This has in turn boosted the market and there are now more choices of good quality homes to rent, and before you know it you could be moving into the home of your dreams without breaking the back. Furthermore, you are also avoiding the mortgage stresses associated with ownership. Renting a property is a fairly painless process and a spot of preparatory action will make the journey even smoother. Most letting agencies will require a deposit and references so you could make things easier for yourself by arranging these beforehand. You also generally need to pay your first month’s rent upfront so if you can set this total amount aside, that is one less thing to take care of when the times to move in comes around. Asides from avoidance of related mortgage arranging hassles there are many benefits to renting a property. Renters hold a distinct advantage over owners when it comes to packing up and moving on. Standard residential leases for rented properties will require a notice period though this is usually relatively short, whereas selling your home can prove a much trickier task and usually requires more time and money. Furthermore, when you rent property the cost of upkeep falls to the landlord, whereas homeowners have to dig deep into their own pockets for repairs and maintenance. Perhaps Britons should take a leaf out of the book of fellow Europeans who by and large tend to rent their homes and think nothing of it. Now all you have to do is find your dream den and get your belongings moved in! Isla Campbell writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
Related Articles -
Property, property climate, rental property, rent property,
| 
