It is becoming much harder for people to get onto the property ladder. While many have chosen to continue living with their parents to save for a deposit, this is not an option that everyone can take. It could be that employment has driven you too far away to stay with a relative, or that you simply don’t get on, but renting will be your next option, and it can be an intimidating world to enter for the first time. Hopefully, this brief guide will give you the confidence you need to strike out on your own and go into rental accommodation. Here are just a few tips for helping you pick the right place.
Why are you moving?
First of all, you need to think about your reason for moving, as it will help you to determine a lot about your new house or apartment. Are you moving for work, in which case you need to be close to their premises to cut down on travel costs? This will also help to narrow down which area you begin your search.
Are you moving simply to enjoy the city lifestyle, in which case you’ll want to be close to all the best bars and restaurants in town? Or, are you setting up your first home with a partner, and want room for a family? Ask yourself these questions, and write down a list of all the essentials your new home has to have.
What’s your budget?
After you’ve determined why and where you’re moving, you’ll need to think about whether that budget you had in mind was realistic or not. For example, many young professionals find themselves needing to move to city centres for better career prospects and work opportunities, but of course, these landlords often charge their tenants a premium for the location.
That list of essentials will come in handy here, and you may need to start compromising. For example, would you be willing to live further out of the city for a larger flat, or one finished to a higher standard? The important thing is to make sure that your outgoings don’t exceed your income though, so before you put down your deposit, write down every bill and charge you can think off per month, and work out whether that dream flat is realistic.
Seek expert advice
Finally, you should always look to make a few friends in estate agents, as they can be a terrific source of information. On the one hand, if you make a good impression with them as a potential tenant, they may prioritise you when a new property comes on the market that suits your needs.
On the other hand, experienced agents like Linley & Simpson, have been working in their areas for decades, so they’ll be able to guide you through the process of renting the flat, and advise you on what kinds of things you should look out for on viewings.
Do you have any more tips for first-time renters?