There are many benefits linked with renting a home. From not having to worry about repair bills and maintenance costs to having more flexibility as to where you live, renting is still a big life choice that requires lots of thought and consideration.
Before making any big decision, here are a few things to bear in mind while hunting for your new home.
Where to Live
Understandably, location is everything when renting a home. Even if you’ve found the property of your dreams, it may not be housed in a desirable area. We all want to feel safe and secure in our homes, so investigating the area’s crime rate will give you a better idea of why prices are higher or lower than you initially thought. Also, for those that commute to work, you’ll ideally want to rent somewhere that isn’t too far away, otherwise you could be spending more time getting to and from the office than you’d like.
Know Your Budget
One of the biggest things you must get in order before renting a home is your finances. You need to have a think about how much money you’re comfortable spending on housing. When looking at properties, it can be easy to convince yourself you can afford a home out of your price range. To establish a budget, monitoring your current income and outgoings is the best place to start.
Look Into Insurance
In most instances, insurance providers require landlords to insure their property which usually covers physical damage caused by fire, snow, lightning, and other hazards. What you may not know is that this cover won’t stretch to your personal belongings. Therefore, taking out tenant insurance may be the best option. Make sure you get yourself the best policy though. Have a look at sites like Quotezone which allow you to compare tenant insurance which will cover your furniture, electrical equipment, and gadgets. Comparison sites provide a vast array of different quotes from different providers to help you get the best deal possible.
Understand Rent Inclusions
When searching for a rental property, you need to be fully aware of what exactly is included in the rent price. In some cases, your utilities may be factored in. However, most of the time, they aren’t. This means you need to work out any additional costs on top of rent. Whether it’s gas and electricity, water rates, or council tax, make sure you budget for these before sealing the deal.
Prepare Documents
While moving into your first home can be an exciting experience, if you haven’t got your documents in order, it can soon prove highly stressful. There are a number of documents you will need to hand over to your letting agent or landlord which will confirm your identity, prove your right to rent a home in the UK, as well as identify your employment status and credit score. Having your paperwork sorted in advance can give you an advantage over other potential tenants who may require more time to get everything together.
Before you make any snap decisions, taking the advice above into account and spending time viewing several properties (rather than picking the first one you see), will give you more confidence that you’ve found the right home.
