To rent or to buy, that is the question. Until recent years, buying has been the ultimate goal, but times they are a changin’.
Whether it be clothes, cars, homes or shoes, millennials are becoming known as generation rent. Alongside Gen Z they are paving the way when it comes to making decisions led by environment, freedom of choice and freedom to grow. The rental market caters to all of these things and more which is why, at Apo, we are seeing a savvy new generation of residents looking to avoid buying because the advantages of renting come out on top.
Here we look at why renting may actually be better for a lot of people today than buying.
The benefits of renting
Where buying brings ‘status’, renting provides freedom. Which is more important to you? Here are a few of the influences creating a boom in the rental market.
The accessible price of renting
Forget saving tens of thousands of pounds for a deposit. A deposit may often be inescapable whether you are renting or buying, but compared to buying, a rental deposit is relatively affordable. At Apo, we go that extra mile by offering a deposit free option. Just enquire with our team for more information.
Additionally, there is no need to save for lawyers fees, surveyors, a mortgage broker or stamp duty.
No building repairs? No worries
Building repairs and maintenance challenges will always crop up. When you buy you have no landlord to call to arrange repairs. It’s suddenly up to you. Project management is expensive and time consuming. When you rent, you don’t have to think twice about creating the time or money to fix the problem.
With apps for robo-investments, crypto investing, challenger banks and premium bonds, there are a range of safe to risky opportunities to grow your savings. We aren’t financial advisors but we do know there are a range of ways to make more from your money than through buying.