{"id":7998,"date":"2016-08-15T09:04:40","date_gmt":"2016-08-15T09:04:40","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=7998"},"modified":"2018-02-15T11:28:51","modified_gmt":"2018-02-15T11:28:51","slug":"should-you-move-into-a-rented-property-later-in-life","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/should-you-move-into-a-rented-property-later-in-life\/","title":{"rendered":"Should You Move Into A Rented Property Later In Life?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p>The youth of today are currently struggling to even get on the <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a> ladder, stuck in <a class=\"wl-entity-page-link\" title=\"rental\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/renting\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/renting;http:\/\/rdf.freebase.com\/ns\/m.01y857;http:\/\/dbpedia.org\/resource\/Renting\" >rentals<\/a> or their childhood bedroom, as they desperately try and scrimp and save to get anywhere near the extortionate costs that come with owning their own <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home;http:\/\/rdf.freebase.com\/ns\/m.01l0mw;http:\/\/dbpedia.org\/resource\/Home\" >home<\/a>.<\/p>\n<p>Despite the government attempting to help with schemes such as \u2018Help to Buy\u2019, we are becoming known as <a href=\"http:\/\/www.telegraph.co.uk\/finance\/property\/property-market\/12157946\/Generation-Rent-London-to-become-a-city-of-renters-by-2025.html\">\u2018Generation Rent\u2019<\/a> as new research reveals that <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/london\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/london;http:\/\/sws.geonames.org\/2643743\/;http:\/\/rdf.freebase.com\/ns\/m.04jpl;http:\/\/yago-knowledge.org\/resource\/London;http:\/\/dbpedia.org\/resource\/London\" >London<\/a> will become a city of renters by 2025 \u2013 with only 40% owning their homes.<\/p>\n<p>It isn\u2019t just the young stuck in <a href=\"https:\/\/www.thehouseshop.com\/property-to-rent\" title=\"rental properties\">rental properties<\/a>. The last couple of years has seen a 7% rise in pensioners leaving their homes and becoming tenants in rented properties. In addition, half of all regions in the UK saw an increase in those aged 66 to 70 downsizing to rental properties across a year. It is believed that some are being forced to do this to release <a class=\"wl-entity-page-link\" title=\"Equity (finance)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/equity-finance\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/equity_finance;http:\/\/yago-knowledge.org\/resource\/Equity_(finance);http:\/\/rdf.freebase.com\/ns\/m.0hz8s;http:\/\/dbpedia.org\/resource\/Equity_(finance)\" >equity<\/a> as their pension pots dwindle and living costs continue to rise.<\/p>\n<p>Academics have claimed that <a href=\"http:\/\/www.dailymail.co.uk\/news\/article-3168885\/One-three-face-renting-retirement-2040-Millions-future-pensioners-face-later-years-properties-don-t-levels-home-ownership-plummet.html\">one in three could face renting<\/a> in retirement by 2040, with many of those having never been able to own their own home. Obviously renting over 60 can come with some negatives \u2013 particularly if you have <em>never<\/em> had the opportunity to own a home.<\/p>\n<p>So, with all this in mind, when you have<em> finally <\/em>been lucky enough to start moving up the property ladder and aren\u2019t being <em>forced<\/em> to leave your home, would downsizing to a rental be a ludicrous idea \u2013 is it a <a class=\"wl-entity-page-link\" title=\"Stairs\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/stairs\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/stairs;http:\/\/rdf.freebase.com\/ns\/m.01lynh;http:\/\/dbpedia.org\/resource\/Stairs\" >step<\/a> backwards? Or, could it in fact, be a very clever move?<\/p>\n<p>Well first on the <a href=\"http:\/\/www.moneywise.co.uk\/home-mortgage\/renting\/should-you-sell-and-rent-retirement\">\u2018pros\u2019 list<\/a> is that you <em>can<\/em> spend the money that is currently tied up. You don\u2019t need your family home anymore, the kids have moved out and it is getting too big for you and your partner. You are bound to downsize at some point anyway \u2013 so why not make this <a href=\"https:\/\/www.thehouseshop.com\/property-to-rent\">move into a rental property<\/a>. That way you can enjoy all the money that is currently sitting within those bricks!<\/p>\n<p>Wouldn\u2019t seeing the world and having once in a lifetime experiences be better than rattling around in a <a class=\"wl-entity-page-link\" title=\"houses\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/house\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/house;http:\/\/rdf.freebase.com\/ns\/m.03jm5;http:\/\/dbpedia.org\/resource\/House\" >house<\/a> that, although still holds sentimental <a class=\"wl-entity-page-link\" title=\"Value (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/value-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/value_economics;http:\/\/rdf.freebase.com\/ns\/m.0bhr4z;http:\/\/dbpedia.org\/resource\/Value_(economics)\" >value<\/a> for you, is far bigger than you now need?<\/p>\n<p>Secondly, the <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/landlord\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/landlord;http:\/\/rdf.freebase.com\/ns\/m.02mx_6;http:\/\/dbpedia.org\/resource\/Landlord\" >landlord<\/a> will be in charge of maintenance, so it is a weight off your mind when things inevitably go wrong. Plus, with a smaller property there is less to clean \u2013 so you have even more time back to do with as you please. Plus, lower running costs means even more spare money to spend outside of the home.<\/p>\n<p>Have you ruled out downsizing because you have too many belongings to fit in a smaller home? Well, what better time to declutter? Clear out the rubbish, donate to charity and sell what you can \u2013 topping up your holiday account, at the same time as getting rid of those items you don\u2019t need. Still got too many items for a smaller home? You could put them into <a href=\"https:\/\/www.readysteadystore.com\/self-storage\/bournemouth-poole\/\">storage<\/a> \u2013 this will come at a small cost, but means you can keep your belongings and still access them as and when you need.<\/p>\n<p>Lastly, you aren\u2019t tied to one location \u2013 you could choose to move by the sea or out into the country \u2013 easily moving on again as and when you are ready.<\/p>\n<p>It depends on your personal situation and whether you are happy to be a tenant rather than a <a class=\"wl-entity-page-link\" title=\"Home insurance\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home-insurance\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home_insurance;http:\/\/rdf.freebase.com\/ns\/m.0313mp;http:\/\/yago-knowledge.org\/resource\/Home_insurance;http:\/\/dbpedia.org\/resource\/Home_insurance\" >homeowner<\/a>. But, ultimately you will be in a much better position, financially.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The youth of today are currently struggling to even get on the property ladder, stuck in rentals or their childhood bedroom, as they desperately try and scrimp and save to get anywhere near the extortionate costs that come with owning<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/should-you-move-into-a-rented-property-later-in-life\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":7999,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[1,16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2016\/08\/couple-outside-house-136401076871203901-151015122721.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/should_you_move_into_a_rented_property_later_in_life_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/7998"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=7998"}],"version-history":[{"count":3,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/7998\/revisions"}],"predecessor-version":[{"id":14577,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/7998\/revisions\/14577"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/7999"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=7998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=7998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=7998"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=7998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}