Should I buy or rent a home in UK?
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," remarked another expat in UK.
Other Questions:
- What do I need to know before retiring in England?
- How do I meet people in England?
- What is life like in England?
- Is there a lot of crime in England?
- Is there a lot of diversity? Are people in England accepting of differences?
- What are the schools in England like?
- Is the cost of living in England high?
- What advice do you have for expats having a baby in England?
- What are healthcare services like in England?
- Is the cost of living in England high?
- What type of recreational facilities are in England?
- What is the weather like in England?
- Are there good restaurants in England?
- Where will I buy groceries and do other shopping in England?
- What are the visa & residency requirements in England?
- Are healthcare and health insurance expensive in England?
- What do I need to know when buying property in England?
- Are foreigners allowed to own property in England?
- What appliances are typically included in a rental?
Should I buy or rent a home in UK?
If you live in England, newcomers to England would love to hear your answer to this question.
About the Author
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.