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Should I buy or rent a home in UK?

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If you have not spent a lot of time in UK, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...

"Buying a home in England is often a sound investment, however it is important to consider the full range of available options before making a decision. Evaluating the potential benefits between buying versus renting will help you decide which route to take. Buying a property will involve higher upfront costs, but rents can be unpredictable and can rise over time. Investing in a property provides long-term security, as you will own your home and can eventually reap the financial rewards from it; however some commitment is needed to financially maintain it. On the other hand, renting allows you to "try out” different areas and enjoy the convenience of not having to pay for maintenance and repairs. Both options can provide advantages, so it is important to evaluate what best suits your lifestyle and financial situation," said a member in UK.

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Should I buy or rent a home in UK?

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About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

Hyde Park in London

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