Factors you must consider before renting a home

The world is currently divided in their opinions about the benefits of owning a house and renting it. While the odds are in high favor of getting a home of your own the benefits of renting are also good. Renting comes in handy if you have a transferable job or one ensuring that you can never grow your root in one place.

Either way, you have quite a number of options set before you for you to choose from, especially for apartment renting. You can get the relevant information of the apartment from various media outlets like website listings, newspapers, apartment finders, etc.

These media tools come in handy too when picking the best out of the hundreds of apartments listed on them. But, it is important to think before you pay the lease. There may be quite a few apartment possibilities available in the area of your choice but only a few are there that meets your every need.

Here are the factors you must consider before renting a home.

1. Location

It is not enough to have an apartment that is close to your college or office. There are multiple other things that should come into play while you are choosing your apartment.

•    Is the neighborhood safe? Is it a quiet locality? Are there miscreants roaming around in the night?
•    Who are your neighbors? Do they have kids? Do they keep to themselves? Do they have some weird interest? Or Are they a noisy lot?
•    How long would it take you to reach your office or college? How close is the bus route? How far is the tube from your apartment? What would be the monthly gas bill?
•    How convenient is the location? Are the grocery stores nearby? How many are there? Are there too little or too many? Would it take a walk to go to them or a drive?

Ask yourself and your realtor these questions before you book the apartment or house as per your convenience.

2. Parking

Today, owning a car is no longer an extravagance. It is a bare necessity. While many would like to take getting a parking space for granted with their rent, in reality, not every homeowner gives you one. Here are a few questions that you must ask before you sign on the lease.

•    Is parking available in the complex?
•    Do you have to shell out an extra sum for it?
•    Is it within your budget to pay or the extra?
•    If the apartment complex offers no available parking then are there any available nearby?
•    If so, what is their cost and how close is it?

3. Apartment vs house

The cost of living differs from one city to another. The handsome sum that would get you a nice house with various amenities in one town falls short for getting a decent apartment. You may then have to bring down your expectations a little or bring up the sum that you plan to pay for your apartment. Before you start checking the listings, ask yourself some of the simple questions like:

•    What you cannot do without?
•    Would you be able to let go of it all for a cheaper tag?
•    Is there a way around it?
•    Can you have it all at a lesser price?

Rather than a full apartment, you can try to get a room of the apartment. You would get all the facilities you wish to have without having to pay more. If you are lucky you can also get it all at a reduced price tag. But if you love your freedom and hate to live with a bunch of others, then upping your rent amount is the best choice.

Owning a car nowadays is a necessity. If you own a car, a parking space should be a consideration for apartment hunters. (Source)

4. Maintenance

Often times you may land up a cheap deal for an apartment that is not well maintained. Well, a landlord who is not bothered about the upkeep of the apartment can be a real pain. You may face issues like plumbing, drainage, cleanliness of the apartment and more on a day to day basis. So, it counts if the apartment is well maintained.

5. Amenities/facilities

Many of the first-time renters do not realize what is important and what is not so important. They do not realize that facilities and the location are all mutually exclusive. Most get seduced by the luxurious pool or the gym area. But what they do not realize is that in some places, these facilities cost them additional fees. The additional facilities you need to look out for:

•    Dishwasher  
•    Air conditioning  
•    Recycling  
•    Gardening  
•    Pool
•    Fitness room  
•    Security (complex specific)

In some locations, the amenities are free to be used, but most landlords demand some extra pay from you. The common facilities that are added by the landlords into the additional package are:

•    Parking (area specific or additional spaces)
•    Laundry hook-ups  
•    Laundry area

If you feel that you can get the same benefits elsewhere at a reduced cost, you can do so with ease. For example, there are several online renting portals where you can find the best rent rates apartment at competitive prices.

6. Pet

Having a pet is a beautiful thing! A furry animal to keep you company is sometimes all you can have in the heartless concrete jungle. But most homeowners refuse to rent their home to strangers with a pet. Not because they are heartless but because pets require a financial and social obligation that they do not think you may possess.

You can step up the game and show them how serious you are about the responsibility. Ask them straightaway about these:

•    Cost of the pet deposit
•    Pet health coverage

Show them your devotion about being a pet parent and that you are more sympathetic to the plight of others who live there. This understanding and the readiness to bear the responsibility in case anything goes wrong is enough to turn the decision in your favor.

By keeping these few points in mind, you would be able to maneuver your way into the real estate market and get a better outcome for apartment hunting.

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DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation for writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.