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Posted by Emily Swanson

Prospective first-time buyers could save up the required deposit for a house by renting a room in a shared property beforehand.

That is according to Matt Hutchinson, director at SpareRoom, who believes this could represent a good option for any individuals struggling to raise the money they need to make a downpayment on their own home.

Mr Hutchinson explained that flatsharing is the "most affordable way to live" in comparison to buying or leasing an abode as this avoids the necessity of paying either a mortgage or rent.

"If you can save money on that, then that is the biggest way of improving your financial liabilities," he noted.

Last week (December 12th), Easyroomate.co.uk published research predicting that the number of Britons flatsharing will increase to almost three million next year.

And the SpareRoom official indicated this trend is largely because people are recognising the economic benefits of doing so. 

19/12/2011 12:20