Buying property is a more cost-effective option than renting for people living in almost half of the UK’s 50 largest cities, according to new research, but that does not mean it is the right option for everyone.

As experts in both private lettings and property sales in Leicester, the team at Keywest know that there can be many more reasons beyond the financial aspects that dictate whether renting or buying is the right option for you.

Our property specialist can open the doors to a multitude of both renting and buying options in Leicester, but we can also help you assess your personal circumstances and advise on the current market conditions and mortgage possibilities. In general, however, here are some of the benefits of both buying and renting to help you plan your next big move.

Buying

Asset: Buying a home means that you are making a tangible investment that can benefit you in the future.

Freedom: With the usual planning constraints, you can do what you want with a property that you buy without having to seek permission from a landlord.

Experience: Buying your first home can give you the discipline and experience that will enable you to make your future property investments work best for you. Getting on the property ladder for the first time can be a daunting prospect, but get the right help and advice from experts such as the team at Keywest and it can open the door to a multitude of future opportunities.

Community: Buying your own home can give you the confidence to put down roots and become a true member of a community. This can sometimes be difficult to do with short-term lets.

Renting

Flexibility: Renting can be a great option if you don’t want to be tied down by property ownership. Contractors who move around with their jobs, for example, or people who like the excitement of living in a new location may enjoy the freedom that being a tenant rather than a homeowner can offer.

Testing Ground: Renting can allow you to try out living in an area before committing to buying a property. Living somewhere is obviously the best way of assessing whether the area is right for you in the long term, whether that means trying out the local transport links or the area’s entertainment options.

Financial Freedom: Home-ownership inevitably entails a big financial commitment that can be avoided if you choose to rent rather than buy. Negative equity will never be an issue, and you will not have to plan ahead for costly repairs, such as the replacement of a broken boiler or fixing a leaking roof.

Whether you want information about our mortgage advice services or access to a comprehensive range of properties to buy and rent in Leicester, browse the Keywest website, contact a member of the friendly and experienced team at either the Hinckley Road office on 01162 544 555 or the Queens Road office on 01162 544 543, or emailsales@keywest-estateagents.co.uk for help and advice.