Instead of buying, why not rent?

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Buying a house in the current turbulent UK property market is proving tricky for many, particularly first-time buyers who are faced with ever higher house prices and fewer choices. Whilst the UK economy and the UK property market are recovering from the 2007 crash it might be a good idea to consider renting and riding out the storm. Renting holds many advantages over buying and doesn’t tie you down financially which is particularly important in these unstable times.

Renting is a far less risky affair for a number of reasons. Firstly the rent you pay is fixed and unlike a mortgage payment it is unlikely to change. Also if you were to buy property during the economic recovery there is still the possibility of a double dip and if this were to occur your property might be left in negative equity which is a risk avoided through renting. With money being more precious than ever, it is also worth considering that in a rented property it is the landlord’s responsibility to take care and pay for any maintenance or repair that could occur. This saves tenants the hassle of organising repairs and the associated costs. Finally, when renting, tenants are not tied down in the same way as a house owner. Contracts are often between 6-12 months, leaving tenants with a far greater deal of freedom that simply doesn’t come with owning a house. This is particularly useful for young professionals whose careers could take an unexpected turn and my require relocation somewhere else.

Finding a property to buy is usually an energy sapping process whilst looking for a place to rent is far less arduous. Rental properties can be found through many sources ranging from the internet, estate agents, newspapers and even directly through the landlord. Choosing where to rent requires a lot of thought and it is always a good idea to weigh up your needs in relation to budget, public transport and housemates. Once these things have been decided it becomes far easier to locate the right rental property and by selecting a less busy time of year to rent it could ensure a better deal.

The burden of a household can be extremely stressful during a period of economic recovery and renting is a viable and often financially better option considering the state of the UK property market.

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  • UK ONLY , Why not rent instead of buying?

    Most financial analysts are saying that the cost of renting could be well worth while instead of taking out a huge mortgage for thousands of pounds , only to see your asset (brick and mortar) falling like a stone in the next 4 years and see yourself in what they call 'negative equity' , in other words , you have lost out on buying property. Except for passing on your house to your family after your demise , what is the real reason for getting into huge debt?
    I retired last year, my final mortgage was paid off before my 50th birthday so for the last 15 years i have been able to save well. I own a large house, far larger than we need as the kids have long gone from the nest, and with a decent pension we have a pretty decent standard of living. No one has a crystal ball but i have never been ill in my whole life and come from long lived families on both the maternal and paternal side's so i may well have a lot of years ahead of me yet. If i had been a renter i would not have been able to afford my present standard of living, would not have owned outright a house worth a goodly sum and would probably be looking forward (?) to 20 years of penny pinching retirement. The day you realise that you made the right decision about buying comes one month after your mortgage is paid off and suddenly you realise that your home for the rest off your life is cost free apart from normal bills.

  • How do you get your heart to stop loving someone you lived with for 9 years when he doesn't want you anymore?

    I have lived with a guy for 9 years. I moved out 5 years ago because he said he didn't love me and I didn't see any reason to stay with someone that didn't want to have a relationship. He just wanted to be with someone with no strings attached. I'm old enough to know it is cheaper in the long run to buy a house instead of rent, so that was what I did. A month after I started the process of buying the house, he called me. I went to see what he wanted. My walls were built, he wasn't going to get inside easy. He said, "I just wanted to look you in the eye and tell you that I love you. I didn't realize how much until you were gone." I did everything for him but got nothing in return. We continued to bicker but I kept hoping he would realize I was going to stay. I have left and come back, left and come back, still trying to work things out. I want to be with him but I don't want things to be the same way they were. He knows I love him with all my heart. He can't tell me why he said he loved me and now says he doesn't. He knows if he calls me for some reason, I will go see him. He will get his needs fulfilled and I'm supposed to consider this being friends. He doesn't feel like he is using me. I do, even though I know I am a willing partner. He says he has never cheated on me but he will. I feel like I am being used as a place holder. Use me to take care of his needs until he finds someone else. I have never felt like this with anyone before. I have been married twice. I feel more like I am grieving the death of a loved one, not a failed relationship. I don't know how to cope. I have even called a counselor that was recommended and was told to call back next week. I'm not a threat to myself or anyone else but I can't continue to cry every day. I have responsibilities.
    When you say his "needs are fulfilled" does this mean everytime he calls for you, you two end up having sex? If so he's def using you and you need to block his number. You can't love someone one day and not love them the next. If he is coming back to you and telling you that he loves you and wants a family then I would reconsider perhaps MAYBE dating again. Don't let him move into your house (congrats by the way) until you have dated each other for at least 6 months to a year with it being more than just a booty call. So there is two options one is you try to aviod him until he tells you he wants more. Then he has to "prove" that to you. But don't use that word men don't like it lol Just date for a while if he is faithful and truthful to you for a year considering moving in together and hopefully things will work out for the better. If all fails find a new guy don't wear your heart on your sleeve but don't have walls up. You want to allow guys to know the real you but it takes time. Good Luck

  • why does my Dad keep telling me I need to thank my Grandad for paying off my uni loan but I dnt want to?

    My family don't have much money and I would say I had a deprived upbringing. We never went on holiday really, or went to restaurants or the cinema. My Dad has a low-income job. So my Granddad helped us out. But instead of giving us fun things my Granddad spent his money on boring stuff like buying a house for my Dad, private education for my brother and I and he has now payed off our university loans. Thing is my Dad keeps going on about how lucky I am and how I don't seem to appreciate all he does for me. But while I accept not everyone gets to go to a private school (although loads do), everyone pretty much gets their loan paid off by their parents for family member. At the end of the day he hasn't payed for a house for me and never will, he is only willing to help me with rent. He would never give me money to go on a holiday or buy a car or anything remotely fun. Now arguments have arisen because my Dad says I have to write a tahnk you letter to my Granddad for paying off my student loan!!!!! On principal I have refused. Why is he insisting on this when it's not an interesting thing he has payed for?
    Sorry, this has got to be a troll question. If it's not, this is my response (but I hope it is!).

    If you have finished University, then you must be at least 21. Your question however makes me wonder whether you are actually 9. Your family appear to be hard-working, loving people who only want to best for you. You must show your appreciation for the fact that your parents have done their best to ensure that you never have to live the struggle that they did and in so doing, your father has swallowed a lot of pride to accept money off your Grandfather.

    I'm assuming your Grandfather is an elderly man. As he is not your father, he had no obligation to give any money to you. He could have said to your father "pay me back in so-and-so amount of time".. but you know what? He didn't! He didn't expect any money back and he gave it to you out of love. However, he could have gone on holiday and blown the money on a cruise and to hell with you! .. but he didn't. He gave it to you with a willing and loving heart, hoping that you will succeed in life and never have to go through the strife that he and your parents did.

    Your ingratitude seems to know no bounds. The love you recieve from your family appears wasted on you. If I was your parents, I would never give you another bean until you learned humility and gratitude. In days gone by you would have had to have fended for yourself. NO! You would never have been able to go to Uni, get a decent job or live as comfortably as you do. Before you mock it, people had it far worse than you. I come from a mining community and the people there had to work until their fingers BLED. They were never sure if there would be a coal mining disaster and whether they would see their loved one's again (no health and safety then). They couldn't afford davey lamps, so they had to use candles. The candles would sometimes ignite the gas emmited from the coal and cause huge explosions and major casualties and deaths. They soldiered on of course, because they knew they had to put food on the table for their wives and many children. They would come home covered in soot and grime and would develop serious chests complaints as a result of the coal dust that they inhaled (sometimes fatal). The food that they would eat would pitiful (talk about splitting peas). They couldn't afford much and some would have to go without food (in this case, the parents for their children to eat). If they ran out of money, there was no coal for the fire. In Winter, they would freeze and hug one another for an ounce of each (no central heating then). In the poorer families (and by that I mean desperate), the wives would have to go into service as parlour maids for wealthy families to be able to provide a second income for their children. Consequently one of the children would have to adopt the maternal role (and leave school, sometimes younger than 10).

    No matter how intelligent you were, many of those who were ultra bright and had the brains and the...

  • Why doesnt he want a baby?

    i got married at 25 after a year of being engaged and we have been married for a year. He is 31 years old im 26. im also worried about reaching my 30s and things getting difficult with age and also that i don't want to b a very old mum i want to play with my 2 children but i don't know how much i can do fun things like that if i have my first at 30. ..
    and i want to still feel look younger when i collect the cuties from nursery..
    I also feel it will be good for our relationship because we feel lonely and his concerns fall for his family who hate me.

    Some times i feel afraid of having a baby too, knowing i cant change anything again but more the process of pregnancy really scares me. I remember when i was a teenager i use to feel i could seriously just kill myself if i was ever having to have a baby. Now i don't feel that way at all but i am very afraid of the process.

    Im also worried to know what if i have problems conceiving because i have been trying for a few months now and my husband knows that but he only have actual intercourse 2 or 3 times a month and usually we just make out a lot more instead. i don't know many words for these.

    However, if we do decide i know he will go to the GP with me to see that every thing is okay and to plan ahead.

    he says he doesnt want a baby because i want to work or study.. but i told him i don't think there will be a perfect time for it. also i wanted to rush into it because i was always insecure about the relationship, it was very difficult when i started off in it with his family but all alone on my own even with my family until i told my mum not to intervene.

    i wouldn't mind having the baby after 2 years or 3 certainly sure.
    i was upset about my husband saying he only wants a baby when we buy the house, which im doing but because all his friends live on rent and have babies with out homes.
    im paying for our house.
    That is what you say until you se what they look like. i use to think that when i younger too but know when i look at them i can see the difference between too young and 30s is well. Also i want to be able to be very physically fit, i met a lady at a hospital once with my mother and was 40 having he first baby. she couldn't even bend down to do her shoes laces and my house cleaner is 24 having her first she is so unbelievably active! and she is a very petite indian vegetarian girl too. The 40 year old at the hospital was with her dad and we thought it was her husband!. She told us not to tell her dad we thought that because he would get very happy but she said her parents had her in their early 20s. i don't want to be a 60 year old enough to be a grand parent with a 20 year old i have nothing to relate to with.. YES I DO WANT TO PLAY WITH MY KIDS LIKE THEY ARE AWESOME. Even i know i can't play around as much as i use to if i get pregnant, have work, responsibilities, house work, et
    Lawless, im finished with any education already nearly. And just because i am studying something for a...
    If you really think you'll be too worn out for motherhood by the time you reach your mid - thirties, you may want to rethink the whole parenting thing.
    Your husband sounds sensible. Listen to him.

  • Do you think the latest conlib Government policy will work?

    This Government really do not like the fact the poor still exist in Britain and they detest even more working class council tenants.

    I've never heard of anything so stupid, the past labour governments have encouraged the sale of council homes to tenants who found themselves able to buy and despite a 3 year bond to pay the council for maintenance of the properties thus bought, these properties are now in the private sector.

    The councils have given themselves a pat on the back as they relieved themselves of a lot of older properties that had high maintenance costs. However, the purchase price they received for these properties was meant to be used for reinvestment in low cost house building. Very little has been spent on this, as councils instead have sold land on, to both housing associations under the premis to build homes at reasonable rental costs for both private and social housing needs, and also to commercial builders for private house development at reasonable costs to first time buyers.

    Hence, local authorities have long lists of those waiting to be housed and even longer exchange waiting lists. In the none to distant future, it looks like these two lists are set to grow even bigger.

    What I can't understand is why the Government wants to do this? It should be a matter of choice, whether you opt to buy your home or rent your home. The likelihood is that if you can;t afford private rents, that you might be able to afford a socially set fair rent, from an association or local council, However, the unbelievable news is that, as soon as council tenants circumstances change and improve they could be evicted out of their homes.

    I can;t understand this logic at all, If a council tenant has a job he could find himself homeless within 6 months. The majority of council tenants do have jobs, they are not the type of jobs that pay well, as they are normally people earning at the bottom end of the earnings bracket. Part- time at less than 6k a year or full time at less than 12k a year. To be able to afford private rents you need to be earning a secure income of around 19k plus per year and to be honest, I know nobody at all in these circumstances. Or if they were earning 30 k per year a mortgage of 90k might be possible for the rest of your life, but then this is all dependent on your job being secure for life and the likelihood of that in an economic depression is nil. Defaulting on mortgage payments also adds to the social housing problem. .

    The simple answer to not allowing repossessions to take place, would be to allow the insurances people will have paid in with their mortgage, to cover mortgage payments and then when they had run out, to allow income protection plans and pension schemes to be used for mortgage payments and then finally for the bank or building society, to come up with a scheme that is akin to: "rent to buy" That gives the householder a certificate covering the percentage of their home they own already from paying the...
    your rant is too long.

  • what to do in this senario, or about this marital situation?

    got married 10months ago.
    knew my husband for about a year.
    we both really like each other and are happy with each other.

    I had my wedding nearly a year ago and now i have to travel to pakistan because his family have not ever met me and they intend to through an after wedding celebration to welcome me into the family; will actually its custom and tradition so all their friends and relatives expect them to do that as it very cultural. But we are having a joint celebration as his brother will be getting married a day before the joint bridal welcome into the family celebration by their community.

    This had put a bit of strain on my hubby and me as they kept telling us the celebration was much sooner but then post poning the dates again and again.
    Not that i am too worried about that because im actually more worried about having to go to pakistan........... ));

    I already know his mum and dad hate me with out ever meeting me.
    We didn't have enough money for this celebration in pakistan as im suppose to dress like a bride again and him like a groom again and we don't have money for our flight tickets so i asked my husband to ask his parents to lend the money as we are going over there at their request and not by free will also it isn't possible that we go with out the help because we don't have the money.

    I paid for our entire wedding celebration which was quite amazing so i haven't got any more money on me for his side of the family celebration. When we got married i also gave my hubby £6000 in cash so we could go on a honey moon, buy some furniture for our new flat.

    But we never went on honey moon as my husbands parents told him we should meet them before we ever decide to go on a holiday. So we listened to them to keep them happy - not that they will ever be happy.
    My hubby then ended up spending the money on other things since we were not allowed to go on a honey moon. And his parents told him to use that money because he might need some if he has to travel to pakistan for the celebration.

    My hubby didn't even buy me a wedding ring and i did every thing the true considerate traditional way. Have got him a platinum diamond ring and all.

    Right now im not working, im studying to be a teacher so he is the only one bringing in the income.
    £32K annually as a soft ware developer and programmer.

    These pakistani bridal dresses cost £1000 for a decent one that i like but because we have a tight budget i bought a £200 english bridal dress from a website and now also have to purchase a pakistani bridal shawl on its own for £700 and a covering up sleeve jacket for £100. - so it matches and looks right. We still have more work to do on the dress so it will end up costing around £1000 any way and but it would have been nicer if i did the normal easy way went to an asian bridal shop and ordered one outfit altogether for that price - now i have some thing odd; and which i am having to run about very stressed about as this time - the real time we...
    hi super girl..u seem to be quite iin a dilemma..just tell me how is your husband..is he supportive..i mean if u share smething with him how is his reaction?? look its understandable that pakistani marriages cost u a lot but everything will be managed ..dont worry..all the expenses for that joint celebration must be arranged by your in-laws..whats the financial position of your parents inlaws..if its good then it must be done by that..if not good then non need to spend a lot on bridal dresses..also u can rent a bridal dress.many shops give proivision for that..women have generally the same size..dont worry..pakistan isnt too expensive..wish u a happy married life and pay no heed to the comments of ur parents in laaws..in pakistan its very commonn to hear comments like that and clever girls never listen to them..they infact just ignore the comments..just be sure ur husband is happy with u..yes .. learn something to cook and cook it to ur in-laws..they r going to love it

  • wat to tell to that guy ...?

    Hello there,
    there is a guy staying with us since february this yr.. infact, he lived with us in UK, as we all shared a house.. before coming to stay, he asked dad, my sis and myself permission.. we never refused.. but if he asked mum, mum would disapprove..

    other places will tell him to either "there is no place, or pay rent etc.. ".. we didnt even tell him that. he used to contribute in buying things which sounds alrite.. he works as a manager in macdonalds..
    i've noticed that "he doesnt like ppl giving him orders ... ".. because since he is a manager n a workalcoholic..

    the reason i said that is, dad n i decided to involve him in our new business starting from scratch, a restaurant.. n bcoz he has experience, we need him, but at the same time.we dont want him to invest in the building .. instead, its better to invest in buying the ingredients, or even pay the staffs.... plus he will b responsible for other stuffs..

    now i fear 2 thgs, bcoz i am new to restaurant, as no experience, n dad wants me to be a manager.. thats 1 reason, why the guy is keeping away..

    2. reason is.. as him n i will be managers, there will b a top guy who will check on us , it will b my dad.. so i fear because of that, he is not interested n doesnt like dad to give him orders, although he is 1 with 6 yr experience [ macdonald in uk plus here just started]..
    for the mmt, he is coming home late after work, sleep over n go bk to work early mornings.. n if he is free in the afternoon, he will either go bk to his place [ he lives far]..

    as his father is a builder , we told him to come over to do the kitchen extension, he worked only 1 week, n left.. now dad is abit annoyed, each time we ask the guy here "when will ur dad come etc?" he acts like he doesnt know anythg.. i rem, on a friday nite dad called his dad, n the dad said he will come on sunday.. when that guy came home after work [saturday morning at 0100], i told him, that his dad will b coming on sunday..
    automatically, he didnt say a word, but am sure he texted his sis informing his dad... n eventually, the father didnt come..now each time, when u ask the guy, or he says he will contact him but he never does..

    so far last nite the guy texted me, asking me that "he wil use ma laptop ..".. i feel embarrassed now.. i am inbetween, giving or not giving... "..

    the only problem with me is, i dont hv work experience in any thg.. n ppl can easily take advantage of me n i hv to lower myself.. i agree i hvnt done degree, not worked in food dept, etc

    it seems this life , there r no friends exisitng in life.. as every 1 take advantage...

    wat can u advice me please
    Explain that you are new to the job, but don't give away reasons why. This was an Opportunity for you.
    You will do just that, the truth hurts.

  • I am moving out 18. Does anyone have any personal tips how to cut back on bills. I thought of a few already.?

    And no I wont "stick with parents" I been ready to move out since 14-15. I am nearly 17 now.

    I am gonna rent at 18 but saving to buy my own at 25 which is why I want to be frugal as possible.

    So far I have though of....

    Wear thick jumpers/blankets in order to save on electricity/gas
    Get the £15 a month internet instead of the £54 I was gonna have (despite the £15 being a bit unreliable at times)
    Only waste money on one thing a week (the 50p newspaper every saturday :P love captain crunch page) + 1 lotto ticket
    Buy food in bulk. If I made stews I could sometimes get a weeks shopping for £15

    I will be at work for 12 hours a day 3 days a week (maybe more if I do overtime) so electric won't be running much anyway. After that I will be at uni for nurse training.

    I also need to pay quite a big amount in deposit (unless I go in a caravan) because I need o give LL extra deposit coz I ave a dog and a ferret and most state NO PETS, but some allow extra deposit.

    Any other ways to be frugal APART from "stick with parents".

    Also after nurse training etc etc. Should I move back with my dad from 24-25 to save all that years money. (extra boost for downpaymen, could be around 20k) so I will end up with about 30k is that enough to put down on a 100k house?

    Sorry for all questions I am not even quite 17 yet (9 weeks) but I like to be prepared in every way possible :p.

    So any tips on being frugal please?
    well i think for a 17year old your very sensible.
    If you have a mobile put in pay as you go. Send people a text message asking them to ring you! cheeky but it works.
    I think you've covered a lot of things.
    Shop around for gas and electricity to get the best deal.
    Im trying to figure out what country you in, and im guessing the uk as your using the £. If this is the case, explain to people that you have a dog and ferret and although a lots of places state NO Pets they sometimes allow you. When i rent it stated no pets or children. My landlord came round one day to find, a tortoise and a rabbit and a 5month old baby!! He was fine.
    A lot of mortgages have changes and at the moment some company's are offering a 125% mortgage. i don't recommend that but i think £30k will be around enough for a 100k house.
    have you thought about a house share? Or renting a room in someones house, this may save money.
    Im not sure what more i can say?
    Good luck in the house situation and good luck with the nursing. Its hard work but worth it.

  • Which electric heater to buy?

    I rent a flat with no central heating, but wall mounted electric heaters instead and they seem to have a mind on their own. If I put the heaters on they won't work until 3 or 4 am in the morning, it will keep on only until 7am, and only from Nov to May. I could not find any way to change those settings in the heaters or in the flat, I have no idea why it happens. So now I am feed up of feeling cold and want to buy a portable heater to leave in the sitting room that is big. Any suggestions to the type of heater to buy? I want something potent and with timer as I feel VERY cold all year round, even wearing cashmere.
    oil filled and portable . De Longhi 1500w for your bedroom and perhaps a touch bigger output for your living room . both on wheels . £40 and £ 60 / 70 . I have no doubt the snobs on here will respond now - try Argos . look for timer controled ,thermostat , low medium and high control , and size ( flat life is not roomy )