City life is brimming with excitement, opportunity, and sky-high rental prices. Young people tend to gravitate towards city life when they are starting on their career journey. As a result, London, Edinburgh, Manchester, and Leeds are becoming increasingly populated.
Rightmove recently found that inquiries for city rental homes increase by a whopping 126% every year. Since the pandemic, there has been a huge surge in searches for city rental homes as prices diminished dramatically. Inquiries into inner London increased by 7% compared to a 26% increase in central Edinburgh. Many people are looking to move back into the city to make the most out of the socializing and career opportunities available. In addition, more renters are looking for private outdoor space with their property – just in case another summer lockdown is on the horizon. However, outdoor space does not come cheap in the city and is considered a luxury in busy cities like London.
You should also take out tenants’ insurance to protect your personal belongings in the property. Here are a few of the advantages and disadvantages of renting in a city centre.
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As offices begin to reopen across the UK, workers are looking for quick and easy commutes. Cities are highly accessible with buses, underground networks, trains, taxis and much more. After working remotely, many of us have adapted to a work schedule without a two-hour commute at either end. Living in a city means a shorter commute and more time to maintain a work-life balance, win-win!
Cities also have a wide range of social and cultural amenities, such as nightclubs, sports, and museums. You can enjoy any cuisine of your fancy at any time of day or night. Suburban areas don’t have the same variety or accessibility! Of course, cities also have more career opportunities as there are more offices, businesses, and services. You can network with a huge range of people and enjoy making both professional and personal connections.
City apartments are smaller, more expensive, and often lack private outdoor space. These rental properties are great for young couples – but they may not be suitable for the needs of a family. While rent can be expensive, the financial strain of city living often comes from day-to-day expenses. Food, transport and living costs make city living much more expensive than you might first expect.
There is also the issue of overcrowding in cities, resulting in noise and odour pollution. You will fall asleep to the sound of sirens or your neighbour’s birthday party. With so many people living in such a small space, the noise (and even smell) is unavoidable. Don’t worry, though; you can usually avoid any nasty smells by choosing an apartment away from bin sites and dodgy drains.
If you think it’s time to move back to the city, make sure to consider the pros and cons before signing a rental contract.
Make sure to check out some of the other blogs on our site if you did. We write about a variety of topics on real estate and home if you’re interested.