The majority of us tend to work in the cities. Urban centres really do tend to be a hub of professional activity. A report carried out by think tank City Observatory has found that employment in city centres has significantly grown over the past few years, while employment in suburban areas has taken a hit and significantly shrunk.
This makes sense. After all, companies want to establish themselves as major competitors in their field by placing themselves in bustling prestigious areas where they will be recognised. This is fine. However, an increasing number of workers are deciding that they don’t want to permanently live in city centres themselves. They generally want to live in the suburbs or rural areas for a more calm and relaxed quality of life and to start purchasing a house that they can see themselves living in permanently for the future. Living in the suburbs does come hand in hand with commuting long distances to the city on almost a daily basis.
This can be tiring, as you will have to get up extremely early to make it into the office on time and long train journeys, drives, or bus journeys can be dull. It can also prove extremely expensive, as fuel and tickets don’t come cheap, especially during rush hour when companies hike their prices. So, what can you do? It would seem that the choice would lie between living somewhere that is convenient but where you don’t really want to be, or living further afield and paying the consequences in regards to time and wellbeing. Luckily, there are alternatives out there. Here are just a couple for you to consider.
Invest in a City Apartment
Your first option is to invest in a city apartment. This will provide you with a comfortable and personal space to stay in during the working week. You can then return to your main home to enjoy weekends, bank holidays, and other periods of time off. When you are ready to retire and spend all of your time in your main property, you can rent the apartment out or sell it. You can almost guarantee tenants or a sale, as properties in the inner city are always in high demand. This, however, is an extremely expensive option, and may only be suitable for individuals with a large paycheck.
Rent a City Apartment
An alternative option is to rent out one of the many long term serviced apartments that exist in most major cities. This, again, will provide you with comfortable accommodation close to work. You can head to your main property whenever you please, but you will always have somewhere convenient to stay during the working week.
Engage in a Monday – Friday Let
If you don’t want something so permanent, you should start taking a look around at Monday to Friday letting schemes. These types of contracts tend to be offered by private landlords looking to offer flexible rental options to city workers. You will have access to your chosen apartment or property from Monday to Friday, meaning that you can stay somewhere close to your place of work during the working week. Then you return to your own main home on the weekends. The landlord may then use the given space themselves during the weekend (perhaps they enjoy visiting the inner city recreationally in their free time), or they may rent it out to one-off tenants who are looking for a room while taking a weekend break in the city. This is a convenient option and the price tends to be much lower than buying or renting a living space on a more permanent basis. However, you should bear in mind that you probably won’t be able to leave a lot of personal belongings in the space, as others will have access to it during the days that you aren’t around.
These are just three different options that you may have available to you if you want to work in the city but have the benefits of a home further afield at the same time. Each should simplify the process of getting to and from work, reducing your commute. This could have overall benefits on your health and wellbeing! So, start looking at different apartments for sale, rent, or weekday let as soon as possible!
* This post has been written by an outside source for Morning Business Chat
