Remember when you were little and you used to play house, you’d invite your mum/dad/siblings/bears into your pillow fort/treehouse/wendy house* (* delete as appropriate depending on how fancy a child you were) and pour out fake tea and munch on pretend cake. One day you’d be doing it for real! How little you knew…. Tbh if you saw that wendy house listed in Zone 3 for less than 1k a month you’d probably be tempted to book a viewing.
House buying, or let’s be honest the lack thereof is one of the biggest issues facing our generation. From it all being blamed on profligate avocado buying to the news that it now takes 934 years to save up for the average deposit**, daily headlines remind us that home owning is in terms of likelihood up there with being cast as Rosie Huntington-Whitley’s bum double.
We know it’s something important to you so we asked you exactly how you feel about the house market, nearly half (48.9%) of Foundry Fox readers living in London feel like it’s impossible to get on the property ladder but nearly all of you (97.8%) would like to own a home. Now those maths might feel depressing so we’re going to try and celebrate all the great things about renting, read on to feel a whole lot better….
** exaggerated for comedy effect (for now)
When things go wrong they are someone else’s problem
Sure it’s annoying as hell when your boiler breaks for the third time in a winter and you have to wear fourteen jumpers and sleep on a bed of hot water bottles BUT imagine that happens and you have to find 6k to sort it. That’s a lot of sofa cushions to search behind.
Plus, if it’s not just your flat if you live in a building with communal areas and don’t own your freehold you can also be stung for HUGE amounts to fix major issues. One friend of mine has just had to add a 20k to her mortgage to pay for her share of a whole new roof while another has been asked for 11 thousand for structural problems. With renting you know exactly what will be going out and when with no nasty surprises.
Everyone in Europe does it (so it must be chic)
In Paris less than one in three people own their homes and the figures in Berlin are similar. Obsession with home-owning is along with queuing and passive aggressiveness something of a British trait so renting is actually a definite pro-Europe act…
Unless your landlord has locked you into some kind of three-year contract (and if they have it’s probably bollocks and you can invoke some kind of break clause) then renting equals freedom.
Bored of where you live/ex lives down the road and can’t face bumping into them in Pret every morning/techno DJ moves in upstairs, whatever the reason you can usually be out in around a month with little more consequence than £40 off your deposit for the straightener burn on your carpet that you thought they wouldn’t notice.
Bear with us on this, sure some of them leave pass-agg notes carved into the butter and use all the hot water having gross shower sex with their new boyfriend but for every pain in the ass there’s also the chance that your housemate might turn out to be your new best friend or even the love of your life.
Those smug pals who think they’ve made 200k and until months ago were telling you how their house was earning them £275 a day just sitting there…try selling now, mate, London prices have fallen by as much as 15% and are predicted to fall even lower.
You can live somewhere you couldn’t afford to buy
Noticed you don’t see quite as much of some of your friends anymore? That’s ‘cos they’ve moved a three bus, two trains and a ‘short’ 35-minute walk from London to get more for their money. They might have a new two-bedder in what they’ll euphemistically call ‘Greater London’ but their commute is now longer than a flight to Palma.
photography credit: Evelyn Paris @ Unsplash