Why It Is Better to Rent, Instead of Buying

There comes time in life when you just have to move out of the place where you currently live in and find a new one. The reasons for home removals might be plenty and this is not the place to enumerate them. There is however the possibility that you might face a rather harsh choice – whether you should buy a new home, or go for the renting options.

When you need to make that decision everyone is going to give you different advice. Some people are all for owning your home, even if that means re-paying hundreds of thousands of pounds for the rest of your life. Others believe in the good that the freedom of living in a rented accommodation has to give you. But when a true expert in the field of home owning and improvement like Kevin McCloud tells you that in the current state in the United Kingdom it is much wiser to rent instead of buy, this should be some kind of a sign for you.

CottageKevin McCloud (born 1959) is a writer, TV presenter and designer, who is best known for his work for the show Grand Designs, which has been running on Channel 4 since 1999. If there is an authority on interior design and home improvement in Britain, it would be mister McCloud, who among other things was made Member of the Most Excellent Order of the British Empire for his services in the field.

It was quite recently when Kevin McCloud advised Britons to give up on their dreams of owning their house or an apartment. It is not because such a thing is a mission impossible – it is just not so wise to do it considering both the state of the economy and the country’s policies towards homeowners.

McCloud pointed out a number of reasons:

  • One of the points that he made was that Britain is one of the most populated countries in Europe. Even though there are drops and rises of property prices over the years, it is highly unlikely that we are going to ever give up on the leading positions on the list of most expensive  countries in terms of property prices. It is simply because the supply does not meet the demand. So it becomes financially unfavorable to even consider paying for a house – a pure waste of money.
  • From here, another very important aspect arises – the money you will save from renting will be much better invested in other endeavors, like for example, enjoying your life.
  • You will have the freedom to do whatever you want and not have to deal with all the unpleasant tasks every home owner should manage, including maintaining the property.
  • For a long time McCloud has been criticizing Government policies about social housing. In his opinion, the quality of the newly built houses is so poor that even if a person wants to buy one, he or she will be put off by the thing provided for the value of their money.