Why are more people deciding to rent?

Due to the current financial crisis more people are keen to rent a flat in London instead of owning a home themselves. With mortgage prices difficult to keep up with due to the credit crunch, it is understandable why more people are deciding to rent a fla

Due to the current financial crisis more people are keen to rent a flat in London instead of owning a home themselves. With mortgage payments difficult to keep up with due to the credit crunch, it is understandable why more people are deciding to rent a flat in London. A survey conducted recently showed that over 50% of homeowners sold their property and moved in as tenants. Renting a flat in London is both fun and an inexpensive way to live.

Things to keep in mind when choosing a place to rent

There are a large number of areas to choose from in London for rental purposes. Your chosen area will depend on your circumstance and the main use behind your flat. Many people are known to look for flats that fall in close proximity to their work place. This in result helps them cut on travel expenses. Some areas such as Knightsbridge, Camden etc are more expensive in comparison to towns found in the suburbs.

Other factors you should keep in mind when deciding the area you wish to stay in would include how close are transport facilities? Is there a bus route or Tube station near by? Is it in walking distance? Are there any local supermarkets and shopping stores near by? Any schools and recreational facilities for children? Such questions will need to be asked by yourself in order to make sure you make the correct decision.

One of the best approaches is to consult with a reputable estate agent such as Black Katz (London's largest lettings only agency) and discuss your possible options. This will allow you to be able to discuss your decided budget, the area you are after, any alternatives you could opt for in order to save you money etc. Seeing estate agents are specialised in the field of home buying and letting, they are seen as the most reliable source to consult.

You should do some background research of your own before having an appointment with an estate agent. This will give you an idea of the market you are entering and what you can expect. Nearly all estate agents on the high street have easy to use websites that enable you to be able to search for properties based on your specific specifications. This will give you a chance to save time during your appointment and discussing more important things like setting viewing appointments etc.