Buying V's Renting
According to a recent estate agency survey, buying a property is cheaper than renting one. Conducted by Relocation Agent Network, of which Hudson Moody are a member firm, not only is it cheaper to buy, but you could make significant savings of up to £1,500.
Relocation Agent Network, the national network of independent estate agents asked its members whether it was cheaper to buy or rent a property over the course of a calendar year. 87.5% said that it was cheaper to buy.
The national survey also looked at the possible savings you could make when buying a property instead of renting. Based on a three-bedroom house, member respondents were asked what they estimated the annual saving was from buying a property instead of renting one. Over a third (33.85%) of member respondents stated that it was possible to save up to £1,500 a year by purchasing a three-bedroom house instead of renting it.
Ben Hudson from Hudson Moody, the member of Relocation Agent Network in York said, “This survey shows us that buying really is the preferred option when it comes to making cost savings. At Hudson Moody we understand that some people are renting because they can’t get onto the property ladder – the so called ‘trapped tenants’ – but we’re here to help and guide you through the buying process. Contact us today to discuss your options.”