To Buy or Rent in the Country? Property Search tips for Northamptonshire & Buckinghamshire

To Buy or Rent in the Country? Property Search tips for Northamptonshire & Buckinghamshire

To Buy or Rent in the country?

Property Search Northamptonshire & Buckinghamshire

Anyone who's tried to rent a rural property in Buckinghamshire & Northamptonshire over the last few months will know that they're not the only ones looking.

In many areas, rental property is being snapped up before agents have had a chance to take a picture and post it on their website. In the current flat/deflationary sales market, it makes sense for lots of people to rent rather than buy, but do you fall into this category?

Chris Raper of Stacks Property Search & Acquisition says, "Before you decide whether you're better off renting, ask yourself a few questions:If you buy a property, what are your chances of needing to liquidate? If you're finances are insecure and you're relying on selling a property quickly, renting may be a good option. Keep your capital accessible until the market is more reliable.

Do you need capital for something else? If you have an urgent need for capital, maybe for business purposes, renting a property can free you up to put your capital into something that has more potential for growth and/or income.How long do you intend to remain in a property of a certain type/in a particular location?

If you think you'll own a property for less than seven years, it's difficult to make the numbers add up. The flatter the market, the less likely the costs of buying and selling are to be offset against capital gains. The shorter the length of time you spend in a purchased property, the more expensive it becomes.

"Of course it doesn't just come down to finances. Some people just feel the need to search for and own their own property. Renting, even long term, can feel like a temporary arrangement for a nation that's used to ownership. And if you rent a property there's less you can do to make it feel like your own."Choice too is much more restricted. In rural areas, such as Northamptonshire & Buckinghamshire, there's a limited supply of rental property available, so you may have to compromise more than you would if you were buying and broaden your property search.

"If you do the sums, rural renting makes financial sense. For anyone who needs mortgage funds to buy a property, it's substantially cheaper to rent than buy, even taking into consideration today's low interest rates. But don't assume that rental prices will remain stable historically, rents have always gone up when capital value is stalling or devaluing. "If you're searching for rental property in Northamptonshire and Buckinghamshire, be organised about your search. The best start is the Internet. Compare the market in both Northamptonshire and Buckinhamshire via the various web portals and get an idea of what properties are available in what price bracket. Contact all agents involved and stay on the case.

Renting has a much quicker turnaround time than sales, so you need to be in touch with the agents regularly so you hear if something new has come on."When searching for and viewing property in Northamptonshire and Buckinghamshire, you're looking for different things than when you're buying. Maintenance costs, repairs etc should all be met by the landlord so you may decide to overlook some of the things that would normally set alarm bells ringing - but remember, the condition of the property may also affect the size of your utility bills. If you're searching for a long term let, establish with the agent that the Landlord is looking for the same, or are they just looking for a six month tenancy for lifestyle reasons?

"As far as price is concerned, tenants aren't in a strong position at the moment on the whole, advertised property rental prices are being achieved. You may have to offer the full price to secure a deal. But it's worth investigating how desperate is the landlord to find a tenant, and how long has it been available?

There may be a bit of negotiating leeway. "Most property tenancies are Assured Shorthold Tenancies, for a minimum statutory period of six months. While going for an initial rental period of six months - giving yourself a chance to check you're happy with the property - makes sense; offering a longer let can be a good negotiating tool.

You may be able to negotiate the price by offering rental monies up front if you've just sold a property you may be in a position to do this. "Stacks has nineteen offices throughout the UK.

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