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Renting vs Buying in Cambridge

Whether you are living with your parents/carers, or in rented accommodation you will wonder what is the next step up the property ladder. Do you continue renting or do you invest in a property and become a first time buyer in Cambridge?

In this article we discuss the positives and negatives to both renting and buying a property in Cambridge. Watch an in-depth discussion of the topic below in a MoneymanTV YouTube video.

Why should I consider buying a property in Cambridge?

If your plans involve staying somewhere temporarily, opting for renting is the logical choice. On the other hand, if you want to commit to a specific location, it’s advisable to save for a deposit and consider purchasing.

Having parents who themselves obtained a mortgage may also inspire you to become a first time buyer in Cambridge. Once you’ve accumulated sufficient savings for a deposit or have been fortunate enough to receive a gifted deposit, you may be encouraged to start your mortgage process!

Getting a mortgage in Cambridge

Monthly Costs

Mortgage repayments tend to be cheaper compared to rent payments. However, interest rates are subject to variation, which consequently influences the variability of your mortgage payments.

If you manage to secure a fixed-rate mortgage, you won’t face this problem. Opting for a fixed-rate mortgage guarantees consistent payments over a predetermined duration. When it comes to rent, you will typically see that the costs can stay the same or increase. It’s unlikely that they will decrease.


Homeownership in Cambridge offers a profound sense of stability for individuals and their families. As long as you manage your payments, nobody can force you out of your home.

Being a tenant does offer certain safeguards, such as specific notice periods, but your options remain constrained if the landlord decides to reclaim the property. However, this arrangement becomes less appealing when considering family dynamics, work commitments, or proximity to schools.

In certain cases, landlords extend the option to purchase the property to their tenants before seeking external buyers. This approach not only benefits tenants but also saves landlords on estate agent fees.

Renting in Cambridge


Opting for renting in Cambridge can offer increased flexibility compared to property ownership. Giving notice to your landlord when you plan to relocate for a job opportunity in another region is relatively straightforward.

However, the situation shifts for homeowners. They face the dilemma of determining whether to rent out their property or sell it if they plan to move. The intricacies of selling a home and acquiring a new one involve both significant expenses and time commitments.

You should always be absolutely certain when buying a property in Cambridge. Don’t buy a property and immediately regret the purchase as the complications of buying a home and moving home in Cambridge straight away can be expensive.


Landlords carry the responsibility to fix any repairs that are required on the property. However, the quality of this support can vary among landlords, and there might be instances where you end up conducting some repairs yourself.

Conversely, if you’re a homeowner, property maintenance rests on your shoulders. If anything needs repairing, you must arrange the repairs yourself.

Living With a Partner or Friend

Contrary to popular assumptions, property ownership doesn’t suit everyone’s circumstances. For instance, if you’re moving in with a friend or a partner, is taking out a mortgage together the right option. We like the question, “Have you tried living with each other?”. If not, renting could be a fitting choice for your circumstances before taking out a mortgage in joint names.

If you choose to take out a mortgage and things don’t go to plan, meaning that you have to remove someone’s name from a property, this process can prove challenging and there are lots of costs and fees involved. If this happens, it is important that you get specialist mortgage advice in Cambridge and speak with an expert in the field.

Getting on the property ladder in Cambridge

If you are thinking of purchasing a property in Cambridge, you should consider getting mortgage advice in Cambridge. It can be a stressful process, especially when it is your first time taking on the mortgage journey.

As a mortgage broker in Cambridge, our job is to take all of this stress away and find a perfect mortgage deal for your personal and financial situation. You should take your time when it comes to purchasing a property in Cambridge, they are a huge investment and you must be positive that it is the best decision for you.

Date Last Edited: December 6, 2023

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