If you have a small family, you might wonder whether renting or buying is the right option for you. This is down to all kinds of factors; where you see your family in a few years, what you do for a job, and things like that. Personally, I think renting is a great option for a small family. Here’s why:
Your Family Might Get Larger
Have you considered that your family might get larger? Many people fall pregnant again when they least expect it, and they realise they don’t have enough room in their current home for more children. Moving when you have a mortgage can be really stressful, but moving as you rent is very simple.
You Don’t Need to Find Money for Maintenance/Repairs
Having a family can be expensive – I know how you feel! When you rent, one of my favourite things about it is that you never need to find money for maintenance and repairs. The landlord sorts all of this out for you, so even if you do have a nasty surprise, it’ll get sorted in no time and it’ll come at no cost to you. Living with your family and having a mortgage will mean you’ll need to foot the bill for surprise repairs, which can be damaging to credit and finances in general.
You Can Move Whenever You Like
Not only is moving much less stressful when you rent, you can do it whenever you like. Some rentals don’t have a contract at all, while others will require you to stay there for 6 months – which isn’t very long at all. If it turns out the area or property isn’t suitable for your small family, you can move whenever. You’ll also get a good idea of what you’re looking for if you ever do come to buy. Buying and renting can be done with the same estate agent to minimise hassle too. There’s more Ashton Burkinshaw info online to help you.
You Know the Property is Safe
A landlord has a duty to make sure the property they are renting out is safe. They must check it over every so often to ensure that it’s in full working order and replace the things that aren’t. When you have a mortgage, it’s up to you to do this yourself. You will to a certain extent anyway, but some things can go amiss as it isn’t required by law that you do it. You can sleep soundly knowing that the property you and your loved ones are residing in is as safe as possible when you rent.
You might not be convinced that renting is a good option for your family, and that’s fine! If you are convinced, that’s great too. Renting/buying isn’t the same for everyone. There’s no answer that will suit every type of family, so it’s up to you to decide what’s best for you. Bear in mind that just because buying a house is seen as ‘the done thing’, doesn’t mean it’s what you should do.