It could be closer than you’d think!
There has been much talk over the last 12 months about ‘Generation Rent’ and the struggle for many people in the UK to get onto the property ladder. Is renting long term rather than owning really that much different? What’s the real comparison when it comes to monthly costs, annual spend on your home and whether you’re better off in the future?
There has long been a kind of stigma attached to renting long term for many people in the UK. Is ‘getting on the ladder’ really all it’s cracked up to be? Or is the reality these days that being a tenant rather than a homeowner actually just suits some people better?
Our infographic takes a quick look at the average current costs between renting over 25 years and paying back a mortgage in the same timescale. How do these figures compare to your experience of renting or buying?
Disclaimer: This infographic was compiled using 2015 data. The figures used in this infographic are not intended for financial guidance and do not take into account future levels of inflation, fluctuation in interest rates or changes in the UK housing market.
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<p><strong>Please include attribution to lendingstream.co.uk/ with this graphic.</strong><br /><br /><a href='http://www.lendingstream.co.uk/blog/real-cost-buying-vs-renting-uk/'><img src='http://www.lendingstream.co.uk/blog/wp-content/uploads/2016/04/Buying-vs-Renting-full-infographic.png' alt='Real Cost of Buying vs Renting in the UK' width='540px' border='0' /></a></p>