When we talk about housing, for most people the aim is to buy their own home – and there is nothing wrong with this. However, what we tend not to talk about is the advantages of being a tenant over owning your own home. Here are just some of the pros of being a renter:
Big Repairs Aren’t Your Responsibility
This is most definitely one of the advantages of being a tenant that should be talked about more. If the property is damaged, for example by a storm, then it is the responsibility of the landlord to get this fixed. Boilers, heating systems, plumbing etc can all be costly to repair and as such, a burden that many tenants enjoy being without. It can be wise to speak to your landlord to ensure that they have landlord insurance, so you can have peace of mind that if anything was to happen both you and them are protected.
Moving Home Costs Less
Buying and selling a home isn’t cheap. With renting a property you can do the deal yourself and organise everything between you and your landlord – whereas buying/selling a home involves solicitors and estate agents, and their services don’t often come cheap. Even just the Stamp Duty you have to pay when buying a new house can be a few thousand pounds; a cost you don’t have to consider when you’re renting from a landlord rather than being a homeowner.
You Can Go Anywhere
Although rental prices do differ in different parts of the country, being a tenant definitely gives you more freedom than trying to raise the funds to buy a home – which can differ massively when you consider the north of England to the south. Not only that but ending a tenancy and moving on to somewhere new is a much easier and shorter process then selling a home and looking for a new one to buy.
Although being a homeowner can help give you some financial security, there are definitely some perks to being a tenant so it is worth considering what the best option is for you and your next home.
*Collaborative post.
About Debz Louise
Debz Louise is a UK-based lifestyle expert and the founder of several lifestyle blogs, including Wannabe Princess and Under 5s. Specializing in everything from interior design and home renovation to body-positive fashion and early years development,