Should you buy or rent your first home?

You’ve finally decided to get your own place and get on the property ladder. But before you start looking at the property market for your future home, have you weighed up your options? You might have your heart set on buying your first home, but renting might be the better option based on your current situation.

We have compiled some pros for both renting and buying to help you decide which option would be most suitable for you.



  • Not responsible for maintenance and repairs
    As you don’t own the property, you don’t have to worry about any maintenance and repairs that need to be made (unless you have caused them). The landlord will be responsible for the general upkeep and maintenance of the property.
  • More flexibility
    Unlike buying, there’s more flexibility with renting. Some leases last for 12 months so if you have a change in your situation then you can vacate the property quickly. If you decide you no longer want to rent, you will need to let your landlord know first and give them the notice that you agreed to, which can be between 1-3 months (depending on how long you have lived there).
  • You don’t need to find a new tenant
    When you own a home, it’s your responsibility to sell and find a suitable buyer to take over the property once you’ve left. With renting, you don’t need to find someone to lease out the property. It’s the responsibility of the landlord to advertise the property and find a new tenant.
  • Can be cheaper
    Renting can be cheaper than buying as you don’t have to pay for general upkeep and maintenance. With buying, there’s a bigger investment as you’re responsible for the property and its upkeep, plus you must take out a mortgage.



  • Build Equity
    The benefit of owning your home is that you can build up equity over time. The more you invest in your property, the more likely the property will go up in value. When you decide you want to sell, you might find that you have built up equity and this could go towards your next home.
  • Home Improvement
    Unlike renting, you can make any changes to your home if you want – whether it’s redecorating a room or extending (if you have planning permission). By improving your home, this can help increase its value and build equity. If you’re renting, you need to ask permission first from the landlord.
  • Security
    If you have job security and have a steady income of money coming in each month, then it would make sense to buy a home. If you’re in a secure position but on a low to moderate income, we can help. We administer two of the Scottish Government’s affordable housing schemes. For more information visit the ‘Buy a Home section of our website.
  • Stability
    If you have a family or you’re just looking for some stability in your life, then you might want to consider buying a home. By purchasing your home, you don’t need to worry about moving and can settle into a place that you can call home.

To find out more about our buying options visit the ‘Buy a Home’ section of our website. For renting visit the ‘Rent a Home’ section.