Why Would You Rent A Property?
August 31, 2009 | In: Bethemiddleman.com News | By: Zoe Piper | 2 Comments » | Tweet This!
31 Aug 2009
The other day a friend told us they were thinking of selling their house. After telling them to put it on Bethemiddleman.com, we asked them why they wanted to go back to renting? After all, home ownership is the holy grail for so many people in their twenties and thirties, it seems silly to give it all up.
They gave two reasons for wanting to rent:
Reason One: My mortgage payments are high – even with low interest rates I don’t really have any free cash. The thought of spending the next twenty years on a shoestring is depressing, so renting will free up some disposable income.
Reason Two: I’m not really sure I want to live in this area for the next twenty years. In fact, I’m not really sure I want to live here for the next two years. If I rent at least I can move on at a month’s notice. If I try to buy again, it will cost time and money. I’ve started to think that renting is a lot more flexible and right now that’s what I need.
Why do you rent instead of buying a home? Why is renting better than owning? We’d love to hear your reasons so comment away below 
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2 Responses to Why Would You Rent A Property?
Gary
August 31st, 2009 at 8:54 pm
I’m both a landlord and a tenant, due to work. I used to travel 60 miles each way every day to commute to a new job I landed. After a year I decided to move closer and rent. This was the only option because at the time circumstances dictated I couldn’t sell my house so I had to rent it out. The following 2 years weren’t great. I let it out to two different tenants who both moved out just before Christmas which left the house unoccupied for 3 months over the Christmas and new year period. That time of year proved impossible to acquire new tenants so within the first two years I had to cover around 5 months of mortgage payments on top of my rent. I’m waiting for the best time to sell so I can either become just a tenant or buy a new pad closer to work, time will tell.
Oli
August 31st, 2009 at 9:12 pm
Similar reasons. I like the freedom of knowing I can move to pretty much anywhere I want to (as well as upgrade or downgrade the type of house I live in etc) on 2 months notice, without the hassle of having to wait for someone to buy my house.
Also, if anything goes wrong in my house (boiler breaks down etc), a quick call to my landlord sorts it out.
“Buying” a house would give me little more ownership rights than I have now, I’d just rent from a different person (the bank)
(Disclaimer: 22 year old with no dependants. My feelings may change if I had a family, which would make the idea of staying in one place more appealing)