Not quite able to buy? Renting might be the option for you!

The rent or buy debate is a hot topic, which has no right or wrong answer! If you are not in the position to be able to buy a property in the Surrey area, then renting is always a great alternative!

Here at Park and Bailey, we’ve come up with a list of pros tenants have when renting.

No maintenance costs or repair bills

When renting a property, the landlord is normally responsible for all the repair and maintenance costs! As the tenant, it is not your responsibility to get these things fixed.  

No large down-payment

Tenants could have the better financial deal, as a house with a mortgage usually requires a sizeable down payment, compared to a smaller deposit when you rent a property.

Fixed rent amount

The rent amounts stay the same for the span of the lease agreement! So, if it’s a fixed term contract, you can budget your money and know exactly how much you’re required to pay and when by!

Keep things flexible

When buying a house, you will usually stay in that location for at least a few years! However, if you’re renting a property you can move around easily, if something changes in your life.

Housemates

Renting with friends is another good option! This will make your outgoings cheaper – you can split the bills and housework. You’ll also have a good support network of friend on hand!

Mortgage free

When renting, you can put away as much savings as a homeowner, and not need to think about the additional costs that come with owning a property.

Urban living

Depending on where you want to live, trendy areas, such as cities and beach communities are usually more renter friendly.

Decreasing property value

The property market can fluctuate, but as a renter, you won’t think about the changing cost of the home you live in!

Insurance is cheaper

You should still get home insurance, but when you rent a property, you pay significantly less than a home owner.

If you’re looking to rent a Surrey property and need advice or information, then please contact us or visit our website here for our full range of services.