Alternatives to Buying a Place in the UK

Having your own place is certainly a reason for joy anywhere in the world. Many view it as a true determinant of success especially for young people. But many – especially after that big financial crisis – have looked into some alternatives of buying a place, and I have them listed down for you:

Flat-sharing

This is practiced in many parts of the UK, especially by the younger professionals. By sharing a flat, they are able to save up on expenses as they are distributed among the co-inhabitants. If you choose to live in a rather expensive place, then sharing would be a very good idea.

It would be good to share a flat with people you know and trust. Otherwise you may not feel secured. With people you know, it will be easier to talk about expenses. I know a friend who shares a flat with other friends and he says he contributes food and a small portion of the bills since he is the lowest earner among his flatmates, something they understand because they are friends. Being the one with some knowledge about home repair, he’s the one who buys the diamond core bit and do the job all the others may have passed over. Really, it all depends on your setup.

Become a property guardian

Because the task is to look after a property, in this case a house, you will be asked to live in that house. Many property owners view it as a cheaper alternative to security guards.

The owners could be out of the country, or simply has another property where they lay to rest at night. The other property then would need an inhabitant so people, especially bad elements, won’t think they are abandoned. The owners will then look for property guardians to help keep the property secure. Naturally, more guardians are needed for mansions and other big properties. Not only are they entitled to live in the place for the time being, they are also being paid, and that’s apart from their real jobs.

Or just live with your parents

Yes, you read that right: How about moving back home? Nothing wrong living with your parents or other family members as long as you are helping them with the finances.

It may not sound good to many, or perhaps could even be a subject of ridicule. But really, moving back to your home could help you a lot in fixing your finances. It help you save, something those who live outside of the house don’t have the luxury of. If your work is just near the house, how about staying there and not care about what people will say?