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Reasons to Rent Rather Than Buy

Blog Guide to Renting
07.11.17

‘Generation Rent’ is a phrase that was coined with negative connotations, but, with the rise of property prices and new expectations from tenants, it’s no surprise that renting is currently in the golden spotlight for both young professionals and families alike.

More and more people are turning to rental contracts due to the many benefits in comparison to homeownership. Come 2025, it’s predicted that the ratio of London’s renters and homeowners will shift even more, with as many as 60% of people renting.

When you’re living in a city like London, where there are unlimited opportunities and there’s a vibrant cultural hub, renting offers the flexibility to be right in the middle of it all and truly enjoy the lifestyle.

Buying your own home isn’t a simple decision to make, and it’s definitely not one without stress. But with renting you can enjoy the best of both worlds – a beautiful home without the hassle of a long-term investment.

The rental market is constantly evolving, as rental properties meet new demands and desires, offering additional amenities and quality service to tenants.

You Can Find a Contract to Suit You

Rental properties and contracts aren’t all identical. You can take your time to look around at homes and apartments that suit your current needs and preferences.

You can afford to be selective with a rental contract, in order to find a home within your budget and to match your ideal timeframe (whether that’s a short-term let or a 12-month initial contract).

As well as the price and length of a contract, you can choose multiple other important factors, including whether a property comes furnished, unfurnished, or partially furnished, if the property comes with a parking space or garage, and if it’s pet-friendly.

That isn’t all, though. Many apartment blocks are opening the doors to a new rental experience, where you can expect more than just an apartment. On-site gyms, swimming pools, dry-cleaning services, communal social spaces, and coworking desks are becoming the trendiest additions.

You Can Move Area or City Easily

One of the main perks of renting is that you’re not tied down to a property in the long term. A lot can change over the course of a year. Renting offers you that flexibility to adapt to a change in circumstances. You might decide you want to live in a different borough of London or move city entirely.

You can adapt your home to your lifestyle, moving when you need to – whether that’s to be closer to friends and family, into a bigger apartment when you need more space, or moving in together with your partner.

Your Property Can Grow with Your Career

Your career and where you live should go hand in hand. When you’re renting, your homes can change and grow as your career develops.

Taking a new job in a different location might require you to move home to be closer to your office and the necessary transport links that will make your commute easier. Likewise, progressing in your career might give you the desire to move into a bigger or fancier apartment, without having to take the plunge of investing in a property.

The Future of Renting

At Essential Living, we understand that lifestyles and situations can change rapidly. That’s why we offer a scheme whereby you can move between our apartments and locations – upsizing or downsizing as you need, and exploring different parts of the capital when you want.

We’re not like other property developers or landlords. All of our apartments have been lovingly built and designed to create the perfect spaces you can call home. We’re turning the traditional image of renting on its head by offering more than just a home – giving you a lifestyle and a secure community, through our onsite facilities, communal spaces, and round-the-clock service and support.

We also cut out the extra admin fees that many landlords and property agencies require, so you can move into your new apartment quickly and smoothly.

Interested in looking for your next rental apartment or finding out more about how we’re championing the #FutureofRenting? Contact a member of our team or head to our booking system to see what we have available.

 

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