Nov 28, 2019 No Comments
Whether you are not quite ready to buy your own home yet, (perhaps the home you desire to purchase is currently not in reach of your budget, or this is your first time moving out of the family home and living on your own!) or you are not quite sure where exactly you want to live, in terms of the area, the city or even the country! Renting can be the best solution in order to help you cement exactly what you are looking for, without having to fork out the money for a mortgage or a large house purchase before you know your facts for certain.
You might be thinking, apart from the obvious, mentioned above, what else are the benefits of renting a home, as opposed to buying one? Let’s take a look…
Renting a home often means you will save a large proportion of money. It comes with extra flexibility and less responsibility, in terms of working with a Letting Agent or Landlord.
Owning a home comes with the cost of your mortgage, labour work such as roofers, electricians, plumbers and so on… whereas when you rent, you will work with your Landlord to report any maintenance requests and leave the rest up to them.
We all know that the property market fluctuates. The price of houses increase and decrease all of the time, and for a homeowner, this is incredibly frustrating when you have spent a lot of money purchasing a home in a particular area, for a fixed price, for it to fluctuate the next month for example.
When you rent a property, this does not necessarily affect you financially, as you will never have to sell the property if you wish to leave once your lease is up.
When you sign a tenancy agreement, you are signing a contract that will be fixed to a six or 12 month occupancy period. Therefore if you are not exactly sure what area or city you want to live in, where is best for your lifestyle then this is perfect as it gives you the flexibility and luxury of time to figure it all out.
It is also hugely beneficial if you are a Student for example, and you are only in the area temporarily. And the same goes for Professional lettings, if your job relies on you moving around frequently, short term agreements are ideal.
In relation to our previous point, another benefit of renting a home rather than purchasing your own is that when it comes to leaving, or if you find that you have outgrown the property, then you will not have any stress of selling. It can be really tricky to sell a property in today’s property market! At least when you rent, you can leave on your last day and move into your next place, hassle free.
If you do happen to be a young Student moving out for the first time then you will find that there will be so many lessons thrown your way! You will experience many ‘firsts’ in the home, and if you were to buy a property outright, then you may not always know the answer or have someone close by to help you.
When it comes to renting, you have the guidance, help and advice of your Letting Agent or Landlord to assist with any maintenance requests, troubles or enquiries!
If you are looking for your perfect pad to rent in the Newcastle area, then you have come to the right place with Prem-Lets! We have properties across the region that are perfect for Student and Professional Letting! If you have an enquiry that you would like to discuss with a member of our team, then don’t hesitate to get in touch with us today! Give us a call on 0191 287 2888.