Why people prefer to rent
Home ownership is in reach for more people, but may not always be worth it. Why do people still prefer to rent, rather than buy their own property? Here are just a few reasons why renting is still popular and why the rental market is flourishing:
One of the biggest reasons that people prefer to rent is not having to scrape together for a deposit, that most people struggle to save. There are fewer upfront costs making this more achievable for people to afford.
Rental rates generally stay the same, there is some variation, but it's not as drastic as housing costs. The housing market is forever changing.
The responsibility of maintenance and repairs lies with the landlord in most cases, relieving tenant's of extra costs and stress.
Work demands mean that people can move around the country as required. Renting allows you to pack up your things and leave with shorter notice than waiting for your property to sell.
When renting, you can pretty much choose where you like to live. You can try a new location as a test before buying. People are reluctant to sell their houses with the market being at a low, therefore, renting becomes an option for them. And as a result, the rental market has better options for people to choose from.
Intire specialise in the letting and management of residential property in Bath. Feel free to contact us anytime, whether for renting, letting or property management services in Bath. To find out how much your property is worth call 01225 478 778, email us on firstname.lastname@example.org or visit our office at 21 Barton Street, Bath, BA1 1HG.
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