There is a big difference between renting and owning a property. One of the most important financial decisions you will have to bring as an adult is whether to buy or rent. Fortunately, you can find a variety of calculators online that can help you calculate what would be the most appropriate thing to do for you at this time. There are many different advantages regarding rental and owned properties. If you are working a job that could demand that you move a lot, owning a property is not a very good idea. It will limit your flexibility to move because you will need to decide whether to sell it or rent it.
Both activities demand a lot of time and effort. If you are renting a place and you need to move, you will just need to break up you lease and you are free to go. One of the benefits of owning is that it will make you feel closer to a community. It is easier to settle down, even if you plan to stay there a long time. Owning a home will gives you more responsibilities and choices that you do not have if you are renting a place.
Check out this interactive map that will show you a rental hotspot but also counties that have greater amount of owned properties. As you can see on this map the truth is that renting properties are often limited in some counties. For example, if you look at Surrey you will see less than 25% percent of rental properties. Considering that average rental price is £ 1,190, you don’t have a lot of choices. Comparing to the Manchester the difference is enormous. Manchester has 59% of rental properties with average rental price of 575 pounds. That is twice as much choice at twice cheaper price.