Gone are the days when the bulk of renters were college students and young graduates.
Many wannabe homeowners are now faced with drawing out their renting years as bankers turn their backs and are no longer handing out 100% mortgages. Renting is now seen as the sensible option in comparison … to buying a home in a shaky market or shelling out on huge payments especially with pay cuts and freezes in place for many.
But fret not if you are faced with having to rent or fear that you will have to renew your lease instead of the outlook of owning your own pad there have been big changes in the rental scene over the past number of years.
Happy to say it is a renters market and gone are the days of the freezing dingy bedsit and the sharing of a bathroom with countless others. You can now expect to pay a lower rent with prices down by 12% in the past year alone! You also have room to haggle as due to ‘economic circumstances’ landlords are willing to negotiate. BER Ratings, improved standards and laws have all come into force and even better, supply of rental properties outstrips demand so you have a great choice to pick from.
If renting is still not your cuppa tea, hopefully you can be consoled by: we are all in the same boat! And if anything, renting a shared house can bring back fun memories, save money and boost morale.