To Rent or to Buy ?
Over the last 20 years if you spent enough money on rent you would probably own your own home now!!!!
A modest 2 bed Victorian terrace in Maidstone, Canterbury, Tunbridge Wells is about £1,000 per calendar month: now, assuming the highly improbably theory that rent never goes up and remains the same for the next 40 years, if you continued to pay rent and not buy that would be £480,000. A 2/3 bed terraced property in the North West- Northwich, Crewe, Winsford,Warrington may be rented for £550 per calendar month, again over 40 years if you continued to pay rent and not buy that would be £240,000 you would be handing to someone else – no equity releases to go on holiday in retirement if childless……… nothing to pass on if you have grandchildren………..all to a private Landlord.
But hang on a minute: if you can only afford £1,000 per month rent when your working, how the heck will you afford that on a pension? Especially as a, realistically the rent will be many times that by then. This is the ticking time bomb in this country, and something for the younger generation to think about.
So why not look around your local agents and when you’ve picked the right house for you, give Taylor Wilkinson Surveyors a call on 0845 463 8979. We provide nationwide coverage for Homebuyer reports, Market valuations and Building surveys.
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