Benefits Of Renting As A Family

With the new year here, many of us start looking to make changes that we have been putting off last year.  One of the things is moving home, which is why together with CIA Landlord Insurance we are looking at the benefits of renting as a family.

Moving home is something we need to get right, and working out what is best for you and your family is just one factor you have to think about.  Do you upsize, downsize, move locally or move away.  Then do you rent or do you buy?

What Are The Benefits Of Renting As A Family

Photo by Ethan Wilkinson on Unsplash

Renting Is Cheaper

  1. Owning a property does not always mean profits.  If property values decrease in your area, the value of your home will also drop.  Which could leave you in negative equity, plus there is the instability of Brexit.
  2. When buying a new property you have added expenses of stamp duty, buildings insurance and solicitors fees.  When renting the landlord deals with all of these.
  3. When buying a property you walk into an empty home, and have to furnish it yourself.  With renting you can choose from unfurnished, furnished or comes with electrical items such as washing machine, cooker etc.  Which removes a lot of additional costs.

Freedom

Photo by Matthew Hamilton on Unsplash
  1. You have freedom to move without having to wait for house sales and completions.  This will not suit all families as some like the security of being in one place.  But having the option to move and try new areas as a family can have many benefits.
  2. If you do want a stable base, even though renting and having your landlord have ownership of your home.  Many want long-term tenancies and will want you to remain.  Being asked to leave is very rare as long as you are good tenants.

Interior

Photo by Nathan Fertig on Unsplash
  1. One reason why people are not keen on renting is that the property is not theirs and never feels like home.  This is because walls are painted neutral colours, or you can not make marks in the wall.  Most landlords are happy for you to decorate as you want, with the understanding when you leave the walls are returned to the neutral colour and holes filled in etc.  There are also other things you can do to add colour try using rugs, cushions and throws.  Change door handles or cupboard handles.  Add lots of photos or crafts the kids have done.
  2. A big thing is when things go wrong ie leaks, damp, boiler not working, washing machine broken.  It is your landlords responsibility to fix or replace you just need to let your landlord know.

Sadly with house prices as they are (especially where I live).  Getting on the property ladder is getting harder and almost impossible.  Which is why renting is becoming more and more popular.  So as long as you are a good tenant you can rent a property and live there as long as you want.

What are your views do you rent or do you own a property?

If you are looking at moving Laura from Miss L J Beauty has some great tips on how to have a Stress Free Move.

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