01932 221 331
38 High Street, Walton on Thames
01932 221 331
38 High Street, Walton on Thames
Walton on Thames


Buying or Renting? Which Side of the Fence are you on?


There has been a great deal of media debate recently about the plus and minus points of both buying and renting a property. The problem for those who are unsure about the best strategy is that there’s no specific right or wrong answer here – the path to choose will depend on the circumstances of the individuals concerned.


Those who prefer the concept of buying will understandably point out that one day you will own the house or flat outright. Most of us have an instinct for making our home into our castle, and this instinct becomes stronger when we can see the concept of ownership on the horizon. It should be pointed out, however, that there are drawbacks which should always be taken into consideration. They include:


  • Signing up to a mortgage represents a big commitment

  • The size of the monthly repayment can be affected by interest rate changes and we all know they are going to start going up at some point.

  • There is less flexibility for buyers than renters; it’s harder to move around if your situation changes.

  • If property values decrease, it will affect the value of your investment


It’s not all doom and gloom for buyers, however, because there are some highly tempting benefits that can make all the difference. If property prices rise, then the value of your investment improves, freehold owners can carry out improvements without needing to consult with a landlord and in some cases the cost of buying can be cheaper than renting.


Renting is an option that will always have its supporters


There are some people who would prefer to rent, and they have a number of valid reasons for doing so. They have more freedom to move, for example. If they are renting a home that doesn’t tick all the right boxes, they can switch to another house or flat at the end of their lease agreement. It’s a simple process, and there is usually a great deal of choice when it comes to finding rental properties in the local area.


It’s generally easier to budget accordingly for renters, because their lease agreement will detail rental costs in advance. If the Bank of England announces a rise in interest rates, it’s unlikely to make a great deal of difference to their arrangements for the coming months. There are obviously a number of disadvantages to renting, and they need to be given careful consideration. They include:


  • The property will never be yours to own

  • You can’t make improvements without the permission of the landlord

  • You have no rights if the landlord wants to sell the property

  • In many cases, you won’t be able to keep pets


Making a commitment on whether to buy or rent will depend entirely on your individual needs. As always, it’s a good idea to speak to the experts before deciding a strategy. James Neave the Estate Agents will be happy to help you.




01932 221 331
38 High Street, Walton on Thames
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