Colchester - Keep Renting Or Become A First Time Buyer?
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The BBC published this article (clink link here) which argues that renting has become cheaper than buying a house for First Time Buyers.
I checked out the numbers for renting compared to buying a property in Colchester with a mortgage and indeed I agree that there is a marginal saving to be had from renting.
Making a marginal saving on the rent still does not get you on the property ladder though, so anyone in this position needs to consider whether they want to keep paying a landlord, or whether they want to put the rent money into a mortgage instead.
Tagged as: #FirstTimeBuyer #newmortgage #firsthome
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