(believe me, there are some)
I wanted to write about the benefits of renting because these days it’s easy to forget that there is more to life than saving for your dream home. I forget this all the time so it’s nice to be reminded every so often.
I can easily become disheartened when I leave our tiny rented flat each morning and make my way to work, passing by the gorgeous one-point-something-crazy-million houses and knowing the possibility of owning one of these is non-existent. It’s nice to daydream though, would I buy this £1.7mill house, or that one?
Most of the time I find it easy to stay positive about renting as I know that one day I will be in a position to have the option of choosing which of the two beautiful houses I would like to live in. I would rather wait longer to have that choice instead of buying a small lifeless flat just for the sake of saying ‘Yes, I own my own home!’
I think owning your own home is often seen as the peak of financial success but these days renting is becoming an even more popular choice, and in some cities like London, it is the only choice.
So here’s why I think renting isn’t all doom and gloom:
An important point. It’s so easy to turn a rented flat into a homely home even when only temporary changes are allowed. It is possible to make a place feel like yours without owning it. And I love the challenge of achieving this.
You lose a lot of flexibility when you buy a place. It’s so much harder to pack up your things and travel or move to a new country. Almost all of my friends (including me) have travelled. Exploring the world is encouraged a lot more these days and if you are a renter, you can just pack up your things and go (of course you can still do this as a homeowner, but who’s got time for all the fiddly arrangements?)
If you rent and you’re unhappy with something, there are ways to solve a problem other than forking out your hard earned dosh to get it fixed.
- Decide you don’t like the area? How about move?
- Fancy double glazed windows after you experience a British winter without them? Hmm..I could move?
- Noisy neighbours who are staying put? You get the picture…explore your town and see what else is out there.
Make your money work harder by investing it. I live in London and I won’t be able to afford my dream house here for a very long time and I don’t want to buy any old rubbish. So investing elsewhere in the country still gets me on the property ladder, my money is working hard and I’ve suddenly got a lot closer to buying the house of my dreams. My journey into property investment hasn’t left the computer yet and with properties on average doubling in value every 14 years, I feel I would be mad not to invest!
I love our little flat and over the past year we have worked hard to turn it into a home. Of course I would love to own my own home but I am happy to keep that dream in the future for the time being.