Should I Rent or Buy a Home? | Phil Spencer Weighs In. There are many things to consider when buying, selling or renting a property, and it can all get a little overwhelming at times. Here's property expert Phil Spencer to answer some of your property related questions, such as whether renting before buying is worth it.
Q1 - Should I rent before I buy a house? Or is this a costly mistake?
Renting before buying isn't necessarily a costly mistake. There are many issues surrounding renting, but it can be a very costly mistake if you buy a house and end up regretting it. Those who rent before they buy avoid this situation.
Q2 - How can I add value to my house?
If rooms in your house are considered "too small", you can't magically make them any bigger. However, can make them seem bigger through a few creative lighting and presentation choices. Buyers are always attracted to light and space, so exploiting these two factors will help increase the property's value.
Q3 - Is it best to buy a flat or a house if you're a first-time buyer?
A freehold house holds more freedom, but you will be responsible for the upkeep for the entire thing. Look for opportunities to add value - these are more readily found within a house than a flat, but that doesn't mean adding value to your flat is impossible.
Tweet any questions you have to @PhilSpencerTV with the hashtag #AskPhilMoveiQ.
Find out everything you need to know as a first-time buyer here: https://www.moveiq.co.uk/buying-a-property/looking-to-move/help-for-first-time-buyers
Here's a closer look at the benefits of renting before buying: https://www.moveiq.co.uk/smarter-renting/looking-to-move/renting-research/why-its-a-good-idea-rent-before-you-buy
Buying or renting in a new area? Get your property report here: https://www.moveiq.co.uk/a-property-report-for-buying-or-renting-a-home
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