Why it’s a Good Idea to Rent Before You Buy

If you’re just getting on the property ladder, or you’re moving to a new area, you might be wondering whether to buy or rent.

While you may feel you have no other option but to rent, it doesn’t have to be a last resort! Here’s why it’s a good idea to rent before you buy.

The cost of moving house

Here are some rough averages involved with the cost of moving house:

The Cost of Buying
Stamp Duty	£4,750
Surveyor	£595
Legal Fees (Conveyancing)	£2,095
Valuation Fee (for Mortgage)	£227
BUYING TOTAL	£7,667

The Cost of Selling
Estate Agents	£3,835
Legal Fees (Conveyancing)	£900
EPC	£100
SELLING TOTAL	£4,835

Basic Moving Costs
Removal Company	£1,500
Postal Redirection	£51.00
MOVING TOTAL	£1,551

Overall, a homeowner selling and buying at the UK average price could be looking at roughly £12,000+ in moving costs before factoring in their deposit, mortgage arrangement fees, storage, cleaning, insurance or any extra Stamp Duty/LBTT/LTT surcharges.

Renting or buying?

Evidently, moving house can have serious financial implications. Therefore, buying or selling a home is not something you want to do often.

Here are some reasons why it’s a good idea to rent before you buy:

Chain-free status

Renting before you buy will put you in a stronger position, as you’ll be able to leverage your chain-free status, which is more desirable to sellers. Property chains are notorious for delays, so being chain-free can make you more attractive.

However, remember that being chain-free does not mean you should rush into a purchase. You still need to do your due diligence, understand your budget and make sure the property is right for you.

Area familiarisation

If you’re unfamiliar with an area, try renting before you buy.

You might be relocating to a new area for work reasons, or moving from the town to the country.

This approach allows you to keep your options open, without the costly financial expense of realising you have made a mistake and need to move again.

If you’re moving to a new area and you aren’t familiar with it, you don’t intuitively know the different areas. The reality of transport links or traffic routes may be different from what you initially perceived, and schools may not live up to expectations.

In other words, there are a host of things you only really find out when you live in an area.

If you’ve got a couple of locations in mind, consider short-term lets in the different areas, to get a feel for living in each.

Be mindful that short-term lets aren’t cheap! But, the additional short-term costs may help you make the right purchasing decision and save you money in the long run.

Also, by renting in the area, you will likely work your way onto the estate agent’s hot buyers list. This will give you the opportunity to view properties early, as you’re demonstrating your commitment to purchasing in the area.

If you’re renting privately in England, most assured tenancies are now periodic under the Renters’ Rights Act, so check the notice period before assuming you can move quickly once you find somewhere to buy. In Wales, Scotland and Northern Ireland, notice rules differ, so check your agreement and the rules where you rent.

Try before you buy

Whether you’re a first-time buyer or not, renting a property similar to the one you want to buy can help determine if it’s right for you.

You might find that a lower ground floor flat is not for you and you want to be on an upper floor, for example. Or, you may discover you need some outside space, whether that be a garden, roof terrace or balcony.

Renting first can also help you work out what really matters day to day, from parking and noise levels to commute times, storage space, local shops and how the property feels in different seasons.

Also, you could ask the lettings agent what the chances are of you buying your rental, if you fall in love with it. It never hurts to ask!

Want to get to know an area?

Want to get to know an area? Whether you’re buying or renting, find out all you need to know with Phil Spencer’s Property Report! A report contains information on everything from crime rates and neighbours to schools. Get your report below.

Last Updated: July 15th, 2026