Kevin McCloud believes all shrewd Britons should opt to rent a home instead of buying one.
The television star and Grand Designs presenter explained renting is the way forward and being a tenant is, in fact, vastly preferable to being a homeowner.
A shortage of housing across the country means it is simply not realistic for everybody to own their own property. Instead, the private rented sector provides the answer, allowing you to swerve the financial demands associated with buying for the first time.
“We are going to have to reconsider how we choose to live in terms of renting. There seems to be an allergy to that here and yet renting is a perfectly good idea,” Mr McCloud told the Times.
“I rented for years and I loved it – no responsibilities, no clearing of gutters. It left me free to actually enjoy my life.”
He also thinks every house building scheme put forward by the government to date will fail, as the quality of new homes is simply not good enough to attract buyers. In particular, he would like areas surrounding new houses to be properly addressed.
“The home is the heart of people’s lives. It is the launch pad of our lives and the sense of ownership goes beyond that. It stretches out into the park, the allotment, the car club,” he stated.
As all fans of Grand Designs will know, Mr McCloud is no stranger to a construction project, so his verdict is a particularly damning one. Rather than spend years saving up for a new property, you could be better off – both financially and in terms of quality of life – finding a place you like and settling there as tenants.
What’s more, as a tenant you have more freedom, as only a short notice period stands between you and moving to a new property or location at any one time.
On the other hand, buying a property tends to establish longer-term links to a particular spot, so for maximum flexibility and a stress-free lifestyle, you should make renting your goal.