If you are someone who has to move out because of studies, a job, or any other reason then buying a house is not likely for you, then you should opt for renting a house.
Renting a house turns out to be perfect if you are low on budget and couldn’t afford to buy a house at the moment or you are new to the place. You get the security of having a roof above your head and get to know if it’s worth buying a house at a particular place.
But renting a house comes with its own set of difficulties and can be a tiresome process. To make it easier for you we have a list of 5 things that you need to consider before you rent a home.
5 Things to Consider Before You Rent a Home
If you are new to a place or even if you are new to renting a place for yourself and are worried about what criteria you should be finalizing a rental home. Then don’t worry we’ve got you covered.
Here are 5 things that you should consider before renting a home for yourself:
1. Budget
First comes the budget. Do the calculations and finally come up with the amount that you can afford to rent a house. Keep a range of your budget between which you can have a rental place. You can keep a note of all the expenses in a Microsoft Excel File.
Likely, you might not get what you want at a price you are willing to spend, in that case, you can increase your budget a bit, but remember to do it only if you are comfortable with it. Do the research work on your hand first before involving a broker in the deal.
Always try negotiating the deal, if it’s your lucky day then the landlord can lower the prices. If you are tight on a budget (you can check out jobs for extra money) or don’t have an extra nag for privacy then you can always go with sharing.
Having a roommate or flatmate can reduce the burden whether it is about renting costs or other utility bills, and in addition, you get a company.
2. Location
Location is the most important aspect while you search for renting a house. Location can have a great impact on the price of the rent which depends on different locations.
Try seeking a house whose location is beneficial for you. Generally, people rent a house which is close to their work area or college/school because that makes it convenient for them.
Not only a location near to your work area helps you in saving time from traveling but also saves you money that would have been spent on the tickets to public transportation or gas for your automobiles.
The location must have easy and fast access to utility places such as restaurants, hospitals, bus/train stations, markets, etc.
And the reason why you have to be so cautious of a location is so that it is safe enough to live in. Obviously, nobody wants to live in a dungy place. Always make sure that the residential area has a low crime rate.
3. Space
Make sure that the space of the house that you are going to rent has enough space for you and your commodities. People get fooled by “the bigger the better” but don’t go for this.
Always check how much space you need or can you go for a more compact one. Space plays a big role in pricing, so choose wisely.
A big space means a high rental cost but it also means that you are going to spend a few extra bucks more on the maintenance of the house.
Although, lookout if you are getting all the essential space like:
- Lawn
- Parking
- Backyard
- Store Room
Many people these days have a keen interest in gardening and need a rental house that comes with extra space for gardening. But if you are someone who doesn’t need it then look accordingly.
4. Condition of the House
Whenever you are on a search to rent a house then always have a tour of the house and thoroughly check every place/thing inside it.
The condition of the house must be good or if it’s not then make sure the landlord is willing to pay for all the damages. There’s no profit in renting an ill-maintained house and then paying hundreds of bucks along with the rent price, it will be a total waste of money.
From bathroom floors to the kitchen sink, security to the condition of the pipeline system (to get the best valves for your pipeline system click here), carpet to the windows, everything has to be in good condition.
If the condition of the house is not up to your expectations then you can lower the rental price suitably.
Ask your landlord if you have permission to renovate a few things as per your taste. Many people like things to be in a certain way and love to decorate their houses.
5. Agreement
Even if you have liked the house and location and are satisfied with the price of the rent, don’t give away the deposit right away, first contact your dealer have proper paperwork of agreement, and go through it thoroughly.
Just because you are in dire need of a house and renting for the sake of a house don’t get exploited by your landlord or compromise your tenant’s rights, because in the long run it can be a nuisance.
Look out for the following things in your agreement:
- Non-refundable money
- Final rent, deposits, and the cost of utilities
- Leasing options
- Pet policy
- Extra money for early termination of the agreement, etc
Conclusion
If you are tired from checking out different properties each day, contacting landlords, having long discussions with them, then first consider the above guidelines and then act accordingly.
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