While traditionally associated with younger couples, renting has this year become an increasingly popular approach for families, many of whom are torn between the need to move (for space, work or school catchments) and the challenging dynamics of buying and upsizing in today's turbulent economic climate.
It’s a trend that has understandably – and inevitably - had a significant impact on the types of properties that are typically proving most popular on the portals, with bungalows - in particular - seeming to have gained a new-found appeal.
Among the main attractions of these few-and-far-between one-storey properties, are the unique lifestyle advanges that come from such ‘lateral space.’ This is in addition to the typically larger rooms, which owe to the fact that the majority of bungalows on the market today were built in the late 1980s. As such, they often boast larger plots, with more privacy and sizeable gardens and rooms, which makes them well suited for work-from-home and family life.
Another key advantage of one-storey properties, is that they tend to benefit from smaller utility bills – something that the cost of living crisis has brought into much sharper focus.
Given that the overall footprint of bungalows is mostly smaller than that of multi-storey properties, utility and council tax bills are inevitably lower. These potential savings are helped further by the fact that heat can’t rise into the top floors, and that plenty of roof space lends well to energy-saving upgrades such as solar panels.
Considering these ‘pros’ of all-on-one-level living, it should come as no surprise that this detached three bedroom bungalow in Fontwell Close, Maidenhead, which was recently refurbished to a high specification, is currently attracting a high degree of interest, mainly among potential renters keen to take advantage of its cul-de-sac location and favourable school catchments.
Summary:
Against the backdrop of today’s cost of living squeeze, it is unsurprising that many more would-be-buyers are leaning towards a 'watch and wait' stance, with renting as the interim solution of choice.
This approach comes with the bonus benefit of allowing those with near-future purchase plans, to establish how well they like a particular town or area, before entering into the financial commitment that buying entails.
It’s for this reason, coupled with today’s sector-specific challenges, that there is certainly more competition in the mid-range rental market than ever before.
With this in mind, potential tenants will find that patience (just as much as pro-activity on the portals) are what will stand them in the best stead for finding and securing the perfect property, especially in sought-after areas such as Maidenhead, where demand regularly outstrips supply.
For more details on the featured property, or similar in the Maidenhead area, visit www.braxtons.co.uk or call 01628 674234.