Should I buy or rent a home in UK?
If you have not spent a lot of time in UK, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"Buying a home in England is often a sound investment, however it is important to consider the full range of available options before making a decision. Evaluating the potential benefits between buying versus renting will help you decide which route to take. Buying a property will involve higher upfront costs, but rents can be unpredictable and can rise over time. Investing in a property provides long-term security, as you will own your home and can eventually reap the financial rewards from it; however some commitment is needed to financially maintain it. On the other hand, renting allows you to "try out” different areas and enjoy the convenience of not having to pay for maintenance and repairs. Both options can provide advantages, so it is important to evaluate what best suits your lifestyle and financial situation," remarked another expat in UK.
Other Questions:
- What do I need to know before moving to England?
- How do I find a place to live in England?
- What is a typical expat home or apartment like in England?
- What is the average cost of housing in England?
- Should I buy or rent a home in England?
- What should I pack when moving to England?
- What cultural faux pas should I try to avoid making in England?
- Why do people move to England?
- What are healthcare services like in England?
- What are medical services in England like?
- What are typical rents in England?
- What appliances are typically included in a rental?
Should I buy or rent a home in UK?
If you live in England, newcomers to England would love to hear your answer to this question.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
