With the pace of modern life ever-accelerating, the decision between renting a property and stepping onto the property ladder is more pertinent than ever. In the heart of London's most vibrant renaissance, the Keybridge development offers a compelling case for both sides of the living debate.
The Case for Buying
With mortgage rates expected to fall below last year's levels, affordability is on the upswing. The financial markets are pricing in the possibility of base rate cuts, which bodes well for prospective buyers. You can read more about this in our Market Insight Winter 2024 report. As the cost of living squeeze eases and inflation slows, the dream of owning a home becomes increasingly attainable.
Despite the end of Help to Buy a couple of years ago, the first time buyers’ market seems to have remained fairly consistent, with many choosing to take that step onto the property ladder. In the face of rising rents, particularly in the capital, ownership has felt like an appealing option.
There’s a strong argument for buying new as well; when taking that step from renting, a new build offers a chain-free process. You have the benefit of knowing everything is brand new and under warranty – giving that additional peace of mind for first time buyers. With fixtures and fittings included, there’s also the perk of not having to purchase all the white goods, or having to redecorate as soon as you move in.
With many new build schemes, there is often an array of property types to choose from as well, so you can pick the home that’s right for you. Schemes like Keybridge in Vauxhall Nine Elms offer a selection of studio, 1, 2, and 3 bedroom apartments and duplexes, epitomising the luxury of choice in today's property market.
The Case for Renting
For those not yet ready to buy, renting provides flexibility and the freedom from maintenance responsibilities. Any potential issues can be reported to the landlord and you can enjoy life safe in the knowledge that things will be taken care of.
If you’re not quite sure where you want to settle, or think your plans may change in the mid-term, renting also has the benefit of allowing you to get moving quickly as and when you need to. With no property to sell, relocating tends to be a faster process. Similarly, it gives you the opportunity to get to know a new area and ensure it’s right for you, before making the commitment to buy.
At Keybridge, there’s a 24-hour concierge, private spa and gym, and a 15-metre swimming pool, so residents can enjoy the amenities of a high-end lifestyle without the commitment of ownership. Flexibility is the key when it comes to renting, and gives you the gift of time to decide when you want to make that move a permanent one.
Should you buy or rent?
Whether you're looking to invest in a permanent residence or seeking the flexibility of a rental, there are benefits to each. As the property market continues to evolve, the choice between renting and buying remains a personal one, shaped by individual circumstances and the changing economic landscape.
For those considering their next move, Keybridge offers you the opportunity to decide for yourself, with both rental and purchase options.
