Buying vs Renting

We currently rent our 3 bedroom house with garage at a cost of £550 per month. I believe that renting is better than buying for us as in a couple of years we plan to go travelling. When the time comes for us to leave we don't have to worry about selling our house or finding someone to rent it off us so we can pay the mortgage each month, we can just pack up our things and go. Also I believe renting has been the better option during the recent economic climate as with the changes in interest rates some people's mortgages went through the roof and they were left struggling, whereas our rent will remain a constant amount. The other added bonus of renting is that you don't ...  Read the complete review

Just to give a little overview of my experience, I have rented 3 different properties in Greater London over the last 2 years, but prior to this I have rented in Australia. My husband I also own a house in Australia which we have lived in and currently rent out. I consider us to be good tenants, and good landlords in that as tenants we always pay rent on time, we look after a place as if it were our own and have always left places in the condition we moved into them in. As landlords we've always made sure routine maintenance is paid for so that repairs don't crop up, but if something needs fixing all a tenant has to do is ask and we've always organised repairs as quickly ...  Read the complete review

Over the past ten years I have bought several houses and I have rented several houses. So I thought I'd write on the pros and cons of both as I see them. **Buying a House** A house is undoubtedly the biggest purchase anyone can ever make. It sounds simple enough, go to the bank or building society, get a mortgage, pick a house and Bob's your uncle you're a home owner, right? Wrong! In theory it should work that way, and indeed the actual house buying process isn't very complicated providing you are able to get a mortgage. When you are sat there in your rented property, or comparing rents to mortgages whilst still at your parents house, ...  Read the complete review

When it came to getting my house, I was faced with same question many face: Should I buy or rent? Actually there is a middle ground, but first of all it is important to be aware of the disadvantages of both renting and buying. Buying ===== There are significant advantages to buying. Firstly, you get a mortgage and make interest and repayments. When the length of the mortgage finishes you own the house, usually after 25 years. No landlord is there to terminate your contract or put your prices up suddenly. You can modify your house without permission from your landlord and you can choose to sell when you want. On the ...  Read the complete review

****Renting**** During my four years living in rented accommodation I lived in a house that was managed by the landlord himself in order to reduce costs and not pay letting agents fees, and a flat that was managed by a firm of letting agents. When renting both the tenant and the landlord have to sign a tenancy agreement. This is a legally binding contract that sets out the terms and conditions of tenancy. I found that this document is non negotiable and if you don't like a clause in it then there is nothing you can do about it. The tenant has no bargaining power where this document is concerned and the bottom line is if you don't agree to the terms ...  Read the complete review