Making the leap from the capital to the countryside is a familiar and already well-trodden route, whether that's for those with young families or later in life, but that doesn't mean it's not still a big decision.
With such a pivotal life move, increasingly potential buyers are selling their homes and moving into rental properties to dip their toes into a new area, to make sure it will fit their lives before making any rash (or expensive) decisions if it turns out not to be the right move. By renting, there's more flexibility to find the right home and location.
Adam Fairweather, Regional Director of Lettings has done this himself, after leaving London and renting before buying in the village of Great Missenden in Buckinghamshire, best known as the home of children's author Roald Dahl. Building on his decades of experience, valuable insight and personal experience, he explains why you should consider renting in a new area before you buy.
Why should potential buyers try before they buy?
"The concept of trying before you buy has become more of a thing recently, almost kicked off by the out migration caused by Covid, where people were attracted to living outside of London.
"Lots of people love the idea of being somewhere more rural, but committing your largest financial expenditure on something with a risk attached obviously can make people nervous."
"Renting gives you all the benefits of living in the location and seeing what's happening locally, giving the chance to see whether you like the countryside, the lifestyle, the local facility of living – all without making that big financial commitment of making a purchase, allowing you a little bit more freedom."
What are the benefits of trying before you buy?
"If you're selling in London there can be magnificently large chains involved, and being the end result of that chain (by going on to be a rental) means you're not reliant on your own purchase. It's a lot more predictable. Then, if you do love the area and go on to buy, you're a grade one buyer because you'll have cash in the bank and you're chain free."
"Another silver lining is that if you rent and decide the area isn't for you, you won't have to sell again, which could come potentially at the wrong time and mean losing money."
Which demographic does renting before you buy work best for?
"There isn't a demographic it doesn't suit. There's a variety of different scenarios that renting really works for, such as those wanting to release equity in retirement or not wanting to be so rural and having to rely on driving everywhere."
"At the other end of the scale, there's also people in their early 20s who might be on their first or second job in London, but want both the London lifestyle and to enjoy the countryside at the weekend."
"The most obvious section is the 30-somethings, with either young children or children on the way, who love their two-bed flat in Notting Hill, for example, but know they'll need something a bit different soon."
How long should buyers consider renting in a new area for?
"Even if everything goes smoothly, finding a property and buying it often takes longer than people think."
"Renting somewhere for three or four months is possible, but then you need to think about how long it's going to take to find a property. Then, once you've found it, consider how long it might take to complete the sale, so I would say it's probably as much as a year."
"One of the benefits here is the Renter's Rights Act coming in on the 1st May. This is an assured periodic tenancy, which runs from month to month, giving more flexibility in being able to move out of your rented house or flat. It takes the pressure off in terms of the length of the contract, and it might encourage people to be a bit more bold with their decisions, and that's great."
Where are the most popular areas that London leavers look to rent in before buying?
"It never ceases to amaze me the distances people are prepared to travel. Since 2020, the possibility of more flexible working has meant people are prepared to travel further when they go into their office. We've got Hamptons offices in all the traditional places like St Albans, Maidenhead on the Elizabeth Line and Gerard's Cross, but what's surprised and pleased us is places like Oxford, Banbury, even Stradford-upon- Avon have become viable commuter locations."
What should people look for in the area they're looking to move to?
"It's important to consider the usual key things from both the house and the postcode – such as what's most important to you, where you are in your life and what your requirements, hobbies and working arrangements are. If you're commuting, see what the drive is like at peak times, or the cost of trains. For those with younger families, look at what the local public and state schools are like, and if the activities you all like doing are accessible. It's super important to not just prioritise the bricks and mortar, but also your life. Like anything, there are always pitfalls, but because of the nature of renting, none are permanent."
What is your top tip to consider before trying before you buy?
"We built ourselves at Hamptons to appear in places where people want to live, and we're often in both the place where you work and get the train, as well as in the town or village where you might want to move to. Having teams on both sides means we can handle both your requirements and tying those two things together can make the process a little bit easier."
