Is It Better To Rent Or Buy With A Young Family?

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The future is uncertain for the younger generation who wish to own a home. The experts reckon that it could take thirty years or more for them to save for a deposit on a property, depending on where they live. The worry is that a generation of people for the first time will not be able to buy a property.

Should those people wait until they are middle aged to buy a home and have kids? Let’s investigate whether it is better to buy or rent with a young family.

The Deposit

With banks asking for a whopping twenty percent deposit before they grant a mortgage,  it is no wonder many people fall at the first fence. Those with young kids have extra expenses and find it hard to save for a deposit. Even those without a family face an uphill struggle. Even if someone qualifies for the Help To Buy Scheme, they still need to find five percent as a deposit. That could add up to ten thousand pounds or more.

The deposit on a rental property is much less of a drain on your resources. You will normally need to put one month’s rent down as a deposit and pay one month’s rent in advance. I think you will agree; that is much easier for the majority of people to achieve.


People argue that they are secure if they own a home, but that is only the case as long as they make the repayments on time. Many suffer from joblessness at some point in their lives. A prolonged period without work can leave you and your family without a roof over your head when the banks repossess your home.

If you lose your job while you live in a rental property, you will receive housing benefit that goes a long way towards keeping you up to date with the rent. It is not easy for a landlord to evict people these days either, so you will have some time to deal with the arrears.


When you found your family home in an estate agents in Loughton, you probably didn’t think about leaving it for your kids when you die. It would give them a helpful sum of money when you pass that they could use as a deposit on a house of their own.

In a rental property, your children get nothing because they cannot recoup the money you pay in rent.


When you own a home, it gives your children an anchor. The family home is more than bricks and mortar; it is a place where you make memories, and a safety net should things ever go awry when they leave home.

A rented house offers nothing in the way of roots. People consider them to be a  temporary base until they move on to the next place.

I think that unless you have a roaming spirit, it is much better to buy than to rent. Prices are high and are set to rise further, so I advise you to make a purchase sooner rather than later. The good news is that any money you sink into a new home is usually safe. There will be equity in it from the beginning, and it is unlikely there will be a significant drop in the value. The choice is yours!


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