Tenants Still Dream Of Owning Property

10th June 2021 posted in SELLERS

At Country Properties, we deal with a wide range of customers and clients. We know the rental market is thriving right now, and we are happy to bring landlords and tenants together.

However, we also know many tenants dream of owning property. It can be challenging to achieve this, especially in the current climate, but there is no reason why tenants cannot build towards homeownership.

With the Help To Buy scheme in place, and the 95% mortgage guarantee scheme, there is assistance available for those looking to move from being tenants to owning property.

Whatever stage you are at in life, we have property solutions for you. As Biggleswade specialists, we know what the local area has to offer. If you see your future in Biggleswade, arrange an appointment and we’ll be happy to help you achieve your goal.

If you want to own property, you aren’t alone

While owning property is seen as a rite of passage for people, it is comforting to know there is still strong demand for homes. This can be seen in a recent study.

Recent research undertaken by property service Wayhome shows cases some of the priorities people have in the property market right now. Some of the findings from the study, which spoke with tenants, are as follows:

•             49% of respondents said that home ownership was a more pressing priority than getting married or entering a civil partnership

•             48% of respondents said home ownership was more important than having a child

•             45% of respondents aged between 18 and 23 years old said they continued to have a strong desire to own property

•             56% of people aged between 24 and 42 years old desired owning property

•             58% of people aged between 43 and 54 considered home ownership as a priority

•             Perhaps unsurprisingly, women and parents held a greater desire to own property than men and people who didn’t have children

There is a strong desire to own property

Wayhome chief executive Nigel Purves says: “The pandemic has done nothing to dampen people’s appetite for homeownership and we know it remains the ultimate life goal for significant numbers of people. But the reality is that following on from the pandemic and subsequent lockdowns, becoming a homeowner may be far harder than it ever was before. Indeed, with house prices ballooning, the cost of living rising and additional government support still in force – great numbers of people have no choice but to continue renting for the foreseeable future or compromising on the type of home they can afford to buy, which might not be suitable for their needs long-term.”

Nigel Purves concluded by saying; “If we want a sustainable housing system, which enables more people to take a step onto the ladder earlier in their lives, we need to see innovation within the industry. Aspiring homeowners deserve the security and stability that comes with homeownership.”

In line with Government guidelines, our Biggleswade branch is open and our and lettings personnel staff are on hand to assist you.  If you have any queries or need advice on property sales and lettings then please call 01767 317799 or email biggleswade@country-properties.co.uk.