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Homes for sale versus homes for rent

Yan Gittins
08/01/2008 Yan Gittins BSc MSc MRICS FAAV Partner Yan has experience in Rural Estate Management, shoot management, rural valuations, and maintenance and refurbishment of historic buildings.


WickYan Gittins from Fisher German's Worcester office comments on the merits of letting/renting property in an uncertain market.

In the blue corner a 5 bedroom period family home with charming character for sale at £800,000 in a popular village situation.  In the red corner a delightful barn conversion in a lovely rural setting and sought-after village location to let at £1,850 per calendar month.

Yan suggests, “If you are thinking of relocating to a new neighbourhood, the possibility of renting a property prior to moving is a definite plus when deciding where to live, allowing you the luxury of discovering whether the area appeals and the property has the amenities or schools or community atmosphere to suit your needs.”  You can experience town, country or village life before making what may be the biggest investment decision of your life.

The combination of changing interest rates and the introduction of HIPs have certainly affected the confidence of buyers and sellers and this has resulted in some would-be buyers turning to the rental market.

If you aspire to live on a grander scale than you can afford to buy, renting offers that chance and if you are considering letting your property, it may well prove to be a good long term investment.

Tenants, for so long the poor relations, are protected from fluctuations in mortgage and interest rates, and having a fixed rental for an agreed term is one advantage that will give you better control over monthly outgoings and allow you to manage your budget efficiently.

Your landlord may also be responsible for the structural repairs and maintenance of the property which can make a refreshing change.

In conclusion, Yan comments, “In a changing market there are advantages to adopting a wait and see approach before buying and this tactic keeps some would be buyers in the rental sector”

To discuss any aspect of letting or renting farmhouses, country and unusual property Yan Gittins can be contacted at Fisher German’s Worcester Office 01905 453275

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