When browsing the rental market, finding a property that suits your needs within your price range can be challenging. Or perhaps there are too many options available, and you can’t decide which property would suit you best. Here are some tips for choosing the perfect rental property.
Research the area
Look at several different websites to get a feel for the property market and how much budget you’re going to need to rent a suitable property. Before going to look at any specific properties, do your research on the area you want to rent. This will give you a good idea of what to expect in terms of pricing. You will also be able to pick out if any properties are overpriced or underpriced. Without this prior knowledge, you may pay over the odds for a property before you realise that it's too expensive.
Create a list of needs
It can be easy to get lost in the world of looking at properties and find yourself settling for something that doesn’t meet your needs. To prevent this from happening, create a list of everything you need from a property. Prioritise this list in order of importance; this will allow you room for manoeuvre if you can’t find a property that ticks all the boxes. If you’re planning on living with someone else, you should create this list together to ensure you both get everything you need from the property.
Review your finances
If you’re a first-time renter, you should take the time to review your finances before you decide on your budget. You need to consider the cost of the rental, any furniture you might need and the cost of bills and food. All of these things can quickly add up, especially if you’re looking to rent alone. You need to ensure you can pay for the rent and bills with enough money left at the end of the month for emergencies. If you think it will be a stretch, you could try to rent with a friend or family member to share the costs or look for a place with cheaper rent and bills.
; try to visit at least a few options before deciding on the one you want; this will help you get a better idea of the options available. As soon as you find a place to rent that meets all your needs, be quick to sign a lease. Please don’t delay, as someone else could snap it up before you have a chance to make an application. It can be frustrating, but bear with the process and keep looking; something will come up in the end that meets your specifications as long as you have a reasonable budget.
Furnished vs unfurnished
Some apartments and homes come with the furniture you’ll need whilst living there, while others don’t have any furniture, and you’ll need to go out and buy all of this yourself. Furnished homes can be more convenient if you plan on moving around regularly and aren’t sure about sticking in one location. Buying furniture is not only expensive, but it's also a hassle, and you’ll need to sell it again when you decide to move. If you plan on renting and staying put for a while or buying your own home in the future, an unfurnished property gives you more options. You can purchase furniture you like the look of and keep it for your next property or rental. Some people choose furnished properties, then place the items in storage and buy their own furniture. This option will cost you more in the long run as you’ll need to pay for the storage of the items you don’t want in your house.
Check the property
Before you move in, make sure you do a full house inspection. Note down anything that looks damaged or in need of repair. It would be best if you also took pictures of the property; you can use these when you move to make sure everything goes back in the right place. Mention any issues to your landlord before you move in, so you aren’t liable for any damage you didn’t cause.