We all know moving house can be one of the most stressful things that will occur in anyone's lifetime.
With the current economic and housing market, people all over the UK are asking themselves whether to rent a property or to buy.
Should I Rent or Buy?
When deciding whether to rent or to buy your property, a number of aspects do need to be considered. If you do decide to buy your home, the mortgage you pay will lead to an asset which is your own, unlike paying rent which can be considered dead money. So long as you keep up with your mortgage payments, you can stay in your home as long as you please, you are not subject to the whims of a landlord. Unlike renting a property, you are tied to the property when you buy. This could be problematic if you change jobs and have to move with work.
Buying Your Home
Buying your own home can be a maze of legal work, having to negotiate and deal with solicitors and surveyors. You also have to find the right mortgage deal...then there's the stress of worrying about whether the deal will fall through. All this of course, comes after you hunt for the right house for you and your family.
Firstly you will need to work out how much you can afford, as well as how much space you require and property location. Then you need to organise your deposit and mortgage, along with any necessary legal fees as well as surveys and valuations. Finally, before moving into your new home, you will need to exchange and finalise contracts.
Renting Your Home
As with buying your new home, you need to work out how much you can afford to pay in rent each month. You also need to consider how much space is required and the location of your desired property.
Renting your home can be more straight forward, which means you can be moved into your new home sooner than if you were to buy.
Finding Your New Home
Traditionally, home seekers have always searched for their new home by visiting an estate agent or letting agency. Nowadays, you can still visit an estate agent or letting agent, but you can also browse the internet for potential new homes. In the UK, there are sites such as www.zoopla.co.uk and www.rightmove.co.uk, to name but two. Some landlords also advertise privately on sites such as www.vivastreet.co.uk and www.gumtree.co.uk.
Kirsty Patterson - I am mum to three children and two kittens, so I work from home writing Freelance. My writing and my children, as well as my Husband ...
Join the Conversation