Renting a house isn’t an easy task. With the ever increasing rental being paid and high cost of living one needs to do some financial assessment in considering the kind of property to rent.
Before settling on a house to rent, one needs to add up all your monthly living expenses before budgeting for rent, this will guide you on the property rent you can be able to comfortably rent. In addition to the utility costs which are ever increasing one needs to budget carefully for these, based on your previous usage.
With the high economic times, financial experts will say you shouldn’t spend more than a third of your gross monthly income on rent least you are served an eviction notice from your landlord. However, there are other factors that are considered despite the escalating costs of household utilities and transport can have a big influence on the location you will choose.
Location location location is the mantra in property developments which is essential in deciding where to rent. Renting a house close to your work place is better as it will reduce the cost of transport and commuting time with the traffic snarl ups experienced on major roads. If you have children, renting close to the school would be ideal to cut down on transport costs for the children, making them arrive to school early and not adding up to their exhaustion after a busy school day by arriving home late from school because of traffic.
Space of the rental is vital too, you don’t have to squeeze yourself in a small space as different households require different spaces that is comfortable to them. You have to be wise though as a bigger property will be costly compared to a smaller one. Smaller units have less utility bills being paid, advice get a house that suits your family.
Insecurity has become rampant and one needs to feel secure in your own house. Look for a property that has put in place security measures though it might come with an added cost. Cheap is expensive, don’t secure a lower rental in expense of your own safety. And when you are paying for it ensure there is value for the money you have paid for.
As landlords are demanding deposit which is equal to two or even three months’ rent one needs to have saved up for the rental to avoid financial hurdles in choosing your rental property. Therefore, when you thinking of renting you’ve to save up in advance.
Saving is important for a rainy day,holiday or paying up a dept you should be wise enough not sacrifice these plans in order to rent a luxurious property than you need and also to be able to buy your own home.