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Rent or Buy
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Rent or Buy?

Renting is money down the drain and property is a great investment. But is it as simple as that?

When you decide to leave the family home and get your own place, you’re faced with a big decision – to rent or to buy? Of course financial circumstances may dictate that you don’t have a choice. Let’s look at the pros and cons of both situations.


You can rent a property from many different people – private landlords, estate agents, companies, even friends and family. Or you could choose to live in a flat- or houseshare with other tenants.

The advantages of renting:

Flexibility to move out, depending on your contract

Maintenance costs are the responsibility of the landlord

Useful if you are only staying in an area for a short amount of time

The disadvantages of renting:

The money you pay in rent is gone forever

If there is a problem, you have to rely on the landlord to fix it

Although you live in the property, it is not yours, so you can’t decorate it or otherwise treat is as your own


Buying a property is a serious undertaking. Most people borrow a large sum of money in order to own their own home and that money has to be paid back, one way or the other. If you fall behind on your repayments it can have major consequences. Having said that, owning your own place gives you freedom and, potentially, an investment that will only appreciate in value.

The advantages of buying:

The money you pay out goes back into your property

Your property is yours to do what you want with

The property may rise in value significantly

The disadvantages of buying:

Unless you are very wealthy, you are committed to repaying your mortgage

You are responsible for the maintenance and upkeep of your property, which can be expensive

Your property may fall in value

Ultimately it makes more financial sense to buy if you can afford to. The key is not to overstretch yourself – the bigger the deposit you can manage to save, the less you will have to repay.

But if you want the flexibility to move around without being too tied down, then renting will be your preferred option.


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Please note that articles on this site do not constitute regulated financial advice, which recommends a course of action based upon the specifics of your personal circumstances. The articles are intended to provide general personal financial information. We urge you to consult an Independent Financial Adviser (IFA) before making any important decisions about your finances. Call 0800 085 3250 for details of IFAs in your local area. Any statement regarding financial services products and tax liability is based on legislation and tax practices as at 1 January 2004, which is, of course, subject to change.The value of any tax benefits or reliefs depends upon the individual circumstances of the investor.When investment performance is mentioned you should remember that past performance is no guarantee of future performance. Where products have an underlying investment content, in many cases the value of the investment can fall as well as rise. For with-profit based investments, there is no guarantee as to the level of bonuses that will be declared, if any. Where mortgages or secured loans are explained do remember that your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. All mortgages are subject to underwriting, status and are not available to people under the age of 18.

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Schedule of Articles

property investing
property refurbishment
buying overseas property
moving house
home letting
buy to let
home improvements

top 10 celebrity areas
6 up & comming areas
5 signs that an area is up & comming
city types yearn for the country in town
your place in the sun
equity release
planning permissions & extensions
estate agents
rent or buy
buy to let
mortgage overpayment
mortgage endowments
mortgage protection
stamp duty
self build your home
electrical surveys
the cost of moving in
the perfect neighbourhood
council tax
house price league
good neighbours
stamp duty land tax
top 20 towns 2003
cut the cost of moving
interest rates
buying in scotland
dream homes
first time buyers
the worth of uk homes
bad estate agents
keeping up appearances
home improvements


Please note that articles on this site & any other 'planning-approval' related web site does not constitute professional advice. All articles are intended to provide a general view of many subjects. We suggest you to consult a solicitor before making any important decisions.  The author is not an expert in any given field.

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