As many of you know, I am currently on my journey in moving home and looking into how you rent a house. It’s not one of the easiest things I have ever started to do. The real estate market is really competitive and expensive at the moment. Alot of the prices of homes are increasing every day, and the demand for homes is higher than it’s ever been. Which means, people like me are struggling to find somewhere they like and can afford.
For todays post I wanted to share some tips on what you should do before you choose to rent a house/apartment. I am no expert, but I have been doing this now for a few months and wanted to share the little knowledge that I do have!
CONSIDER YOUR BUDGET
It sounds obvious, but this is something I failed to do before I started looking for my first home. When I decided it was time to move, I immediately began searching for places near to me and looking at homes that were really out of my budget. I probably wasted alot of time looking at homes I will never be able to afford! Don’t make this mistake. Sit down and realistically budget what you can and can’t afford, and then go from there.
Rent is going up and up each week and I have learnt so much from doing my own renter research. Did you know the average cost of rent for 80% of properties in New York is between $1.5k-4.5k. How crazy is that? And that price is just going up and up each year I am sure. As demand gets higher, so does rent price.
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CHOOSE YOUR LOCATION ACCORDINGLY
Not only should you consider your budget, you should also consider where you might live too. The area you choose to have your home is so important. Is it safe? Does it have good public transport? Are there shops and facilities near by? Where you live should always feel comfortable and safe. So do your research and find out where best suits you and what you are looking for.
Whenever I visit New York I always look up townhouses for sale just to see how much they cost. And it’s always so surprising to me how expensive things are there. These are the figures you should look at and consider though when you are looking to move home. Over the last month, the average price for a studio apartment in New York has increased by 5%. Which goes to show that you should choose somewhere to rent sooner rather than later.
All of this information and more can be found on Zumper.com.
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FIGURE OUT THE ADDITIONAL CHARGES
Before I got into the renting game I had no idea about additional charges. I literally thought I paid the rent and everything was included. And this is why you should always research and consider your budget. If you find a property that you like, be sure to check the average cost of gas and electric and that should give you an idea of what you might pay. You should also consider wifi and other charges like that too.
If you are unsure of any additional charges you might have, get in touch with the estate agent you are working with. I’m sure they will have all of the information you need to hand.
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CHECK THE TIMING IS RIGHT FOR YOU
This one is such an important thing to consider. I have been looking at renting/buying my first home since January 2021. I have thought I have found the perfect place several times now, and it just didn’t work out. I have come to realise that the timing isn’t right for me right now, and thats okay.
If the timing doesn’t feel right for you, don’t force it. If you aren’t finding your perfect home, it just might not be out there for you right now. You really don’t want to regret your decision, so don’t rush anything. I am glad my previous viewings didn’t go through. At the time I was really disappointed, but now I know that I didn’t consider the budget and how much I could afford. So it worked out for the best. Alot of the best things in life come at the most unexpected times. Just remember that.
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What things should we consider before we rent a house? What did you do before you decided to rent a house?
Olivia x
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Always interesting!
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Thank you!
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You are welcome!
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Haha I’m not going to be renting a house for a while but if I ever do I’ll take these tips into consideration as they all sound super important!
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Its always good to have information just incase! Thanks for reading Zainab!
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Homes and renting apartments are at an all time high and COVID-19, plays a big part in that, and the powers that be are taking the advantage of the situation and the government are letting them; because many government are in the housing business and some are actually landlords, but to put landlords and house builders in check and checkmate them is don’t do business with them collectively and if they can’t rent or sell their prices will come down to meet what we can afford, you will believe they will soon realize that some money and profits are better than no money and profits.So people should stay where they are at as a whole and make the best of it and when the powers that be come to their greed senses you will get what you want at a reasonable price, and the cost of houses and rentals are through the roof is an industry plan and it’s working because ordinary everyday working people are doing nothing about it collectively!
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Such great points Olivia. Deciding to move and rent a home is such a big decision. It is definitely one that requires some thought and patience. I agree with all your points about looking for something within your budget, making sure the location is a fit for your needs, looking into additional costs and trusting in the timing. You may not know but I recently moved into a new apartment myself and all your points had to be considered. Thanks for sharing your experience and insights so far. Hope you find somewhere that’s within your budget inclusive of any additional costs, in a good area and in the right timing for you.
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Great points Olivia. One thing I didn’t think about was checking the energy ratings and council tax bandings on listing ads- gives you a guide on utility costs which is always handy 😊
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Thats such a fab idea! 🙂 Thanks for mentioning that! x
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https://youtube.com/channel/UC_tbDos6dBgutRKSd_4B0Cw
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These tips are helpful. Thanks for sharing🙂
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Content is amazing. These tips are really very informative and helpful. Thanks for sharing this.
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