Renting an apartment or a house is one financial decision you shouldn’t have to take lightly. A perfect home should be safe and comfortable for your family. Despite this, many people looking to rent properties rush to make payments without fully understanding what they are investing in. However, weighing the most crucial factors can help you make the right decision. Therefore, avoid going into panic mode and consider these key things to ensure a rental property suits your needs.
- Budget
You must determine if you have enough money to pay for the rental fees, other charges, and living expenses. Shopping for a new home without a clear budget in mind is easy. However, this house-hunting mistake is one worth avoiding. Knowing your budget will guide you to pick an affordable property.
As a tip, do the calculations on the rent to avoid misleading yourself into thinking you can afford an apartment that is financially unsustainable. Consider the average electricity bill, water bill, whether lawncare is included, and if there are any community or recreation fees you’ll be responsible for. The property type you choose can impact your monthly expenses on utility bills. A high-ceiling older property, for instance, may cost more to heat than a small ultramodern flat on the second floor.
- Furnished or not
Fully furnished homes usually include basic furniture such as sofa, bed, chairs, tables, and wardrobes. Consider whether you have to bring your furniture to the new place or you only need the necessities. If you prefer the former, discuss it with the agent as soon as possible, as they may be able to make arrangements with the landlord to meet your demands.
- Location
Your dream rental home may be the most beautiful property in the area, but if it adds over 45 minutes or an hour to your commute, you have to think twice about the location. Homes that are far from your workplace may increase your travel costs, which isn’t ideal if you’re looking to save money. Always check your commute and consider accessibility to places you will visit frequently. If you cannot meet a few friends in the evening without tiring out on the way, the chances are they will equally not find your place convenient to visit.
Renting in closer locations will decrease your chances of arriving to work late due to traffic and commute times. Beyond commutes, you must look at safety in the locality. Check for crime rates in the location and explore the street at night before saying yes. A weekend trip to the place will give you an idea of noise levels and other potential turn-offs.
- Services and amenities
Once you’ve settled on the location and size of the property, the next important things to consider are services and amenities. Understand your preferences for services and facilities in your next home. The essential ones to look for may include any included utilities (some communities include cable and internet for example), central heating and cooling, a balcony, and parking. Services like storage, bikes, rooms, and recreation and fitness facilities may be worth considering too.
