07 Mar YOU ARE RENTING NOW, BUT WOULD PREFER TO BUY?

Although rents are relatively high, if you can start putting away small amounts into a savings account named, something like ‘My future home’, you may be surprised what this will build up to over a period of a year. If the property you are renting is a potentially attractive one, think of approaching the Landlord or their Agent, if there is one, about purchasing it? Renting for some Landlords is becoming increasingly unattractive for reasons of increasing taxation, reduced tax allowances, restrictive regulations, (particularly in Wales) and the idea may well appeal to them. If it does, you will probably be able to secure willing cooperation and even assistance in bringing this about. The habit of setting aside a little each month will add up to a surprisingly substantial sum over a year or so. Once you have purchased your first property, you will never look back.