Renting – a more attractive option than buying?
The latest Countrywide Residential Monthly Lettings index shows that whilst rents have risen by an average of 3.7% over the past year, rising house prices mean the cost of renting relative to buying has fallen.
The decision on whether to rent or buy depends on a number of factors. One of the key factors is location. In expensive cities, such as London, the cost of renting can be half that of of buying. Home ownership in itself does not guarantee large financial returns, so the savvy renter can enjoy greater returns by investing elsewhere the money saved by not buying.
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