Unlocking the Key Advantages of Renting: A Closer Look at Epsom's Rental Market
Fri 17 Nov 2023
The Deposit Dilemma
According to The Property Academy Renter Survey 2023, a significant portion of renters, over a third, opt to rent due to the challenge of accumulating a hefty home-buying deposit. Epsom's vibrant community sees a diverse range of individuals, including those who find renting a more accessible pathway to securing a home.
Beyond Necessity: A Choice to Rent
Contrary to popular belief, not everyone rents out of necessity. The survey highlights that a substantial 27% of renters are choosing to rent rather than buy. Moreover, an impressive 37% express their intention to continue renting for two years or more. This insight underscores the growing trend of individuals embracing the flexibility and lifestyle benefits that renting affords.
Perks of Renting
What makes renting so appealing? The survey uncovers several perks that contribute to the attractiveness of renting. For 6% of respondents, flexibility is the key draw, offering the freedom to adapt to changing circumstances without the long-term commitment of homeownership. Additionally, 2% cite the ability to enjoy a higher standard of living and access to amenities as significant advantages. In an era where remote work is becoming increasingly prevalent, another 2% appreciate the convenience of being able to work remotely from their rental property.
Senior Living: Home Maintenance as a Decisive Factor
For Epsom's over 65s age group, a unique factor emerges as a significant draw to renting—home maintenance. Six percent of respondents in this demographic point to the appeal of having home maintenance taken care of as their primary reason for choosing to rent. This sheds light on a growing trend among seniors who value the convenience and peace of mind that renting provides.
As Epsom Estate Agents, Kaybridge Residential understands the diverse needs and preferences of our community. Whether you're a prospective tenant exploring the benefits of renting or a homeowner contemplating the dynamics of the local real estate market, the insights from The Property Academy Renter Survey 2023 showcase the richness and variety of Epsom's rental landscape. We are committed to helping you find the perfect property that aligns with your lifestyle and aspirations. Whether you are an tenant, homeowner or landlord in Epsom, stay tuned for more updates and insights as we continue to navigate the exciting world of real estate in Epsom.