Millions are homes are rented in the UK and some experts expect that number to rise over the next few years as it appears to be harder to get on the housing ladder. To buy your own home you often need a large deposit (roughly 15%) and finding this money is not easy.
If you are in a rented home you may wonder how much money you should spend on it, knowing that you will not get it back and any value you add to the property will simply be lining the pockets of your landlord.
If you are in a short term rental property or don’t think you will be staying there long then it is best to save your money and try and not spend too much on the house. If however you are intending to stay at the property for a while you may want to have a chat with the landlord. You need to find out if you are likely to be allowed to stay in the property for at least a few years. If so, then it may be worth investing a little bit of money to make it how you want it.
Living in a rented home can make it hard to feel like your own. You should try and do small changes such as painting walls and possibly replacing carpet that will allow you to put your own stamp on it without having to spend thousands of pounds.
Should you spend money on a rented house?
| Posted on: January 31, 2019