GOOD TIME TO BUY!

Renting a home in Britain is currently 9.7% more expensive than owning on average. And it is cheaper to buy instead of rent in four in five of the 50 largest towns and cities across the country, according to the latest research from leading property website Zoopla.co.uk.
The research looks at the current asking prices and rents of two-bedroom flats around the country and assumes interest-only mortgage payments of 5% p.a. to provide a comparison to the cost of renting.
The range of results by location provides some very interesting insight into where it is best to rent instead of buy and vice versa. Milton Keynes tops the list of places where renting is the far less attractive option with average rents exceeding the cost of servicing a mortgage by a staggering 43%, leaving renters there on average £2,964 per year worse off compared to owners. At the other end of the scale, it is currently much more cost effective to rent in Poole than buy with renting 27% cheaper and the average tenant better off by £3,240 per year by renting instead of buying.
Even in London, which has by far the highest property prices in the country and where the average 2 bedroom flat is going for £431,366, buying is still 16% more cost-effective than renting. With average rents at £2,137 per month in the capital versus an average cost of a 5% interest-only mortgage at £1,797 per month, renters pay an extra £4,080 annually compared to owners.
Nicholas Leeming, business development director of Zoopla.co.uk, commented: "The relative cost of renting as opposed to buying has increased over the past 12 months as rents have risen and house prices and interest rates have remained flat. Almost 750,000 would-be first-time buyers have reluctantly ended up as renters over the past 3 years as a result of being unable to get a mortgage. With current house prices and interest rates where they are and with rents on the rise, for those who can get a mortgage, there may never have been a better time to buy."

FEATURE PROPERTY

 £385,000

The Old School House is Grade II listed and along with the splendid church which stands nearby, was built in the 1860's of red sandstone from Clennon Quarry. It has been converted from the former village school, which relocated a few years ago, and the owners have kept a mural of the school created by the schoolchildren and which still hangs on a wall outside. The property has been well maintained by the current owners and retains a wealth of charm and character. The inviting accommodation has two reception rooms which run together, a well fitted kitchen/breakfast room, and five bedrooms, two of which have ensuite bathrooms. The current inernal arrangement provides a good degree of flexibility, suitable for a growing family, those requiring additional space - perhaps working from home or the rear section could be used as a separate annexe for the extended family or relative. Outside, the well tended gardens are a delight and divided into compartments so that there is a place to be at any time of the day. There are three lawned areas and three terraces, one of which is retained from the old school playground. Completing the external space is a double garage, plenty of parking and turning space.

The Old School House combines a character home with modern amenities and an internal viewing is essential to fully appreciate the accommodation on offer.

Old School House | Grade 2 Listed | 5 Bedrooms | 4 Bathrooms | 2 Ensuite | 30 ft Lounge/Dining room | Kitchen/breakfast Room | Utility | Potential to use extended accommodation at the rear as a self contained annexe (subject minor alterations) | Gas ch | Character | Charm | Surrounding gardens | Ample parking | Attractive Victorian former school house | Double Garage | Semi Rural with countryside views | Attractive Setting

FEATURE PROPERTY

Feature property see http://www.williamshedge.co.uk/more_details.php?profileID=100394000021
For more details call 01803 554322

Exceptional semi detached house | Period charm | Well presented & maintained | Character featues | Accommodation over 3 storeys + basement | 2 receptions | Study | Kitchen | Utility | 5 Double bedrooms | master ensuite | two further bathrooms | Gardens | Parking | Basements rooms | Sea views | Town Views | Popular Roundham Location | Walking distance of town | Walking distance of Seafront & Roundham Gardens | Gas CH

Buying a better option?

FROM GLOBRIX.com

Have you ever been told paying rent is like throwing money down the drain? - you spend years (and thousands of pounds) paying off your landlord's mortgage and when you’re ready to move on, have nothing to show for it. Now research from the Halifax confirms that, not only is it money down the drain, it’s more money spent than necessary - £98 a month more to be precise.
Britain’s biggest lender calculated that the average monthly cost of owning a three bedroom house is £608 a month but the equivalent monthly rental is 14 per cent more at £706.