Property markets all over the world are in a continuous state of flux. That is why many people are now wrestling with the choice on whether to go all out and buy a property, or whether they should be renting. Those who waited out the boom when values soared were rewarded with lower prices and savings when they eventually made a move on the market during the recession. But some could consider such a move a gamble.
Ultimately, it’s all about the money at hand. The property price obviously plays a massive factor as does the time period you are planning to stay in the property. Buying tends to be better the longer you stay because the upfront fees are spread out over many years, according to the NY times. Living with someone will help a lot in this regard as the costs will be split but you also need to be sure that you are happy dealing with the commitment of dealing with a home.
When it comes to the reality on the ground, people’s difficulty with putting together a deposit has rentals in high demand. On the other hand, low mortgage rates has made buying property in Britain more attractive today than it has ever been in comparison to renting. The conclusion, according to Zoopla’s property experts, is that buying now beats renting in 47 of the 50 largest towns across the UK.