BUYING vs RENTING “side-valuation-button"

16 Sep 2016

BUYING vs RENTING

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A recent survey amongst UK estate agency members aimed to find out which is the cheapest option when looking for a home: buying or renting. Conducted by Relocation Agent Network, of which Gibbs Gillespie is a member, the survey found that buying a house continues to be the cheaper option.

Relocation Agent Network, the national network of selected estate agents asked its members whether it was cheaper to buy or rent a three-bedroom semi-detached house over the course of a 12 month period. 92% said that it was cheaper to buy.

The national survey also looked at the possible savings you could make when buying property. Again, based on a three-bedroom semi-detached house, member respondents were asked what they estimated the annual saving was from buying a property instead of renting one. 38% of member respondents stated that it was possible to save between £1,000 and £1,500 a year, with another quarter suggesting a saving of up to £2,000 could potentially be made.

So in terms of saving money, Relocation Agent Network’s survey results demonstrate that buying really is the preferred option.

Buying your own home is part of the British culture and for many people, home ownership is still top of the wish list. There are pros and cons to both and at the end of the day it boils down to your financial situation, personal preference and lifestyle.

Gibbs Gillespie understands that getting onto the property ladder can be challenging, but we’re here to help and guide you through the buying process. Contact us today to discuss your options. We’ve been appointed the area’s Local Expert by Relocation Agent Network, which means – in their opinion – we’re the best estate agent in the area to help you.




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