Throughout the UK, students of all ages and types are struggling for accommodation, with many individuals forced to live in neighbouring cities and commute to campus. 

For PhD students, the situation is a little different, as the average PhD student is in their 30s or older, because you have to already have a Bachelor’s and Master’s degree. 

As such, you might be more settled than the average undergraduate and might want to think about getting onto the property ladder. 

Still, buying a home isn’t always easy, so making the decision to buy or rent a home is always a challenge. Here are some of the main factors you need to consider when making this important decision.  


For most students, renting is seen as the most desirable option because it gives you the flexibility you need to be able to relocate if and when you need to. If you own your own home, then you’ll have to find a buyer or tenant to take possession of the property. However, if you’re a PhD student with no plans to move to a different university or who lives in a city with multiple universities, like London, you could consider buying a home. So, if you don’t have your future mapped out yet, or aren’t sure about where you want to work after your studies are over, then you might want to continue renting. However, if you have a family and want to stay in the same area, then you could consider buying a property in the area you love. 

Funding Your Accommodation

Whichever option you choose, you need to consider how you’re going to pay for your accommodation. Everyone needs somewhere safe to live, so it’s a necessary expense, but you need to consider how much money you have to spend and what you’ll get in return. The main difference between renting and buying is that when you’re done renting, you have nothing to show for your investment. As such, anyone looking to put money aside for the future might want to consider buying a property. If you decide to buy a home, then you’ll probably need a mortgage to cover the cost of the property. Thankfully, experts like Jamie Thompson Mortgages can help you find the right stipend mortgage, so you can use your stipend to cover your payments and get yourself on the property ladder. 

Living Alone Or Having Roommates 

When renting a property, particularly in a large university city, many students find that they have to live with roommates to afford their dream home. If you want to stay in the city centre, then you might find that you have to have a roommate whether you rent or buy. If you can afford a smaller home, then you might be able to live alone. The more roommates you have, the cheaper your accommodation will probably be, but you might not feel comfortable living with a lot of people, especially if you don’t know them well. So, when you’re considering what you can afford to rent or buy, think about who you want to live with and what you’re comfortable with. 

Overall, every PhD student is different and faces a unique situation. As such, what works for you might not be a good idea for someone else. When you’re considering whether to buy a home or rent one during your PhD studies, consider these factors and take the time to review your situation to make an informed decision that will benefit you now and in the future.

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