The Bright Side of Being Part of the 'Rent Generation’

It has been widely discussed in the media that the way we think about housing in the UK is vastly different now to the way it was 30, or even 15 years ago. With far more people now choosing or having to rent rather than buying a house due to the changes in the market, renting is no longer considered to be a stepping stone you pass over while you are very young, nor is it something that is only really a housing solution for people on lower incomes.

These days, plenty of the kind of people you would previously have expected to own their homes, including middle-class families and people who earn well above the national average salary, are renting. This has led to the emergence of what is being called the 'rent generation', and because there are so many people included in this category, renters are a significant political demographic both parties are trying to win over.

Economists predict that if current trends continue, it won't be long until half of the homes in the UK are occupied by renters rather than buyers, and this will have interesting effects on social culture as well as the economy. So, if you are part of the rent generation, what does that really mean?

While your parents may go on about the lack of security and the fact you are paying rent every month to get no closer to owning anything, there are actually a lot of advantages to living in rented accommodation. Here we take a look at the bright side of being one of the rent generation:

Freedom to Move

Moving house is said to be one of the most stressful things a person can do, but when you rent, it is far less of a pain. Furthermore, you don’t face the same astronomical fees which have been outlined by transport experts AnyVan in their cost of moving house calculator,. Ideally, you just find a new flat, contact some removal services, and move. If you have the kind of career where it is beneficial to be able to easily relocate, not owning your home can actually be a big plus for you, and of course, this applies even if you want to move to another country.

The Building is Somebody Else's Problem

If you own your own home, you can end up with unexpected expenses whenever anything goes wrong. If something breaks or you need a plumber or electrician, it is on you to get it sorted out and pay the tradesman. If you are renting, you just have to make a call to your landlord or letting agent, and the onus is on them. While not all landlords are ideal and this isn't always as easy as it sounds, at least you don't have to worry about unexpected costs.

You Can Rent Furnished

If you are young and moving into your first home on your own or as a couple, chances are you don't already own your own plates and cutlery, let alone beds, cupboards, sofas, and tables. Because you can rent a fully-furnished home, you don't need to worry about buying and transporting all of these expensive and bulky items.

Being part of the rent generation may on the face of it sound depressing, but it actually removes a huge amount of hassle and stress from your life. So, if you have been priced out of the housing market, just smile at the fact you have far fewer headaches about domestic things than homeowners do!