Buying property is neither affordable or desirable for many people or indeed for many smaller businesses.
Money Matters
Greater caution in mortgage lending has meant that applications to borrow money to purchase homes or commercial premises can be protracted, stressful and sometimes end in heartache.
Saving the large sums often needed for deposits can particularly put a strain on first time buyers waiting to set up their starter home, and new business start-ups.
Much of that financial pressure is relieved with a rental property. Though deposits and bonds are a feature of rental contracts, the initial outlay is far more manageable. You can move in with a clear idea of exactly how much you will pay each month, and an agreed length of rental.
If buying a house or commercial building is something you want long-term, then you can save gradually, secure in your rental property in the meantime.
Professionally Managed Means an Easier Life
For some people, it is not a matter of cash, but convenience.
One of the main advantages of renting property is that you can enjoy all the benefits without the hassles of actually owning it.
The rental agreement will include a demarcation of where your responsibilities end. Reputable landlords can be called on to make repairs, carry out maintenance and provide a range of other valuable support services. This could include covering buildings insurance, for example.
A rented property has to conform to strict safety standards too – the same can’t be said of homes or commercial premises that you buy.
Need a Change of Scenery?
Undoubtedly one of the biggest benefits to renting property is the freedom and flexibility it provides.
Leases can be for as little as six months. You can rent a property temporarily if you are planning to move, buying a property in the future, or just fancy a nomadic existence. If you fall out of love with an area, as soon as the lease is over you can move to wherever you want.
The same can’t be said of home ownership. It can take months if not years to sell when you decide to move. And the expense of selling can be substantial.
For details of rental properties in and around Sutton Coldfield, call Belvoir Sutton Coldfield today. Rent or buy, the benefits of using our services are clear.
