On The Move? Should You Buy, Build Or Rent?

Are you thinking about moving house? Although this is a notoriously stressful process, relocating can open doors, and often, a change of scenery gives you a new lease of life. If you’re considering selling up or giving notice that you plan to terminate your rental contract, it’s worth exploring your options.

 

Buying

If you’ve got a deposit saved, and a steady income, you may be thinking about buying a house or a flat. Buying has multiple advantages. Perhaps the most significant is that you’ll be investing in your own asset, rather than paying into somebody else’s account. When you own a house, hopefully, its value will appreciate over time, and you’ll reap the financial rewards. If you’re a homeowner, you also have control of how you design and decorate your home, and you don’t have to ask permission to paint walls or put up a shelf. Signing that contract and holding those keys in your hand can also provide you with a great deal of satisfaction, and you can set about turning that property into a place to call home. If you are thinking of buying, do your sums before you start looking. Work out your budget based on your deposit and the mortgage offers you receive. Once you’ve got a figure to work with, you can tailor your property search.

House for sale, Trinity

Building

If you want to become a homeowner, but you can’t afford the house of your dreams, or you’re struggling to find something that ticks all the boxes, have you ever thought of trying to build your own home? Building projects may work out a lot cheaper than buying a property, and you can customise the design to suit your individual preferences. It’s not easy to turn a plot of land into the home of your dreams, but with the help of experts like residential architects and building contractors, this could be the best decision you ever make. If this idea appeals to you, work out how much you can afford to spend on the land, and on the building and renovation work, and get some ideas from blogs, magazines and online portfolios. Price every stage of the project, set aside a contingency fund, and look out for companies and individuals who have the relevant skills and experience to deliver what you want on time.

Renting

Renting often gets a bad name, but there are advantages. Renting gives you more flexibility, and often, it enables you to live in a property you wouldn’t be able to afford if you were looking to buy. You can take up short-term contracts, you don’t have to worry about forking out for unexpected boiler repairs or a broken dishwasher, and you can also save money if you’re prepared to share with others. If you’re not sure what the future holds, you don’t really know where you want to settle, or you can’t afford to buy at the moment, renting could be the ideal option for you.

Are you thinking of moving house? If so, it’s always a good idea to consider different options. You may be in a position to buy, but is that the best avenue to take? Weigh up the pros and cons, do some sums, and have a look around to see what’s out there.  

 

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