Everybody wants to find their perfect home. A home is where memories are made and whether location, a big kitchen or a big garden is your priority, there’s the right property for everyone - regardless if your renting or buying.
Whatever you’re looking for in a property there are many things you have to consider. Picking the perfect property can not be easy, so prepare yourself. When viewing properties, it is quite easy to get carried away, It's not simply a case of accepting the first vacant house in the centre of town or choosing that house just because it has a nice feature wall.
There are many properties out there and the right one for you is waiting, however before renting, you should bear these pointers in mind:
1) Establish your needs prior to commencing the search.
What are you really looking for in a property and what matters most to you? Brainstorm the features you're seeking, but most importantly consider your compromises. Everyone says location is key, however is it a part you are willing to compromise for a better rental price?
Another question to consider, is parking a necessity to you? Don't presume that all properties come with its own dedicated parking space; if this is a requirement, you'll need to check. A bit like the considerations of pets, never assume that you can allow your animal inside! Make sure to look out for this, otherwise you may find that it contravenes the tenancy agreement or invalidates any insurance policies.
Whatever matters to you in a property, make sure you prioritise your needs. These examples of considerations could be the determining factor between one property or another.
2) Realistically what can you afford.
When shopping for anything, “Oh go on then” is a phrase that is heard a lot. Often indicating a spontaneous purchase, however, don’t stretch your budget when renting property. Don’t just think of the rent as your monthly outgoings for the property, keep in mind that in addition to rent, you'll need to budget for utilities (unless your landlord covers some or all of them), Internet, council tax and other potential extras available to renters such as parking.
Before property hunting, consider where your money is going, drawing up a budget. If you've got some time before hitting the market for a new rental, run the numbers first!
3) Choose your rental.
Choosing what rental type your after will all depend, on A) how long of a lease term your after and B) How much space you need within your property. Depending on your market and your needs, there are many rental types to choose from, and here are a few pros and cons of different types of properties.
Apartment in a high-rise apartment building
Pros: You certainly won’t be short of neighbours, usually high-rise apartments are centrally located within walking distance to the centre, great for if you don’t want to travel to work.
Cons: These high- rise apartments are often smaller than options in the suburbs. You will find space is limited, however this may be just a small compromise for the location. However, if your looking for a family sized house we would advise to look elsewhere.
Pros: If you like privacy in your home a townhouse is where you need to be looking. It may not be the most private place but when in a city you couldn't get much better. You may have a yard, and the home's layout may be on two or more floors, meaning that despite the square footage residents can spread out and enjoy privacy within the home.
Cons: You may be trading space for location, another compromise that you may have to consider, as some townhouses are in more suburban areas.
Pros: If you have children, pets or noisy habits a single-family home may make more sense than other rental options to accommodate for your larger household. You'll get a higher bedroom and bathroom count, as well as privacy which is perfect for a growing family, with square footage needs.
Cons: Unfortunately single-family homes can come at a cost, especially when renting. They can also come with expensive bills as they tend to be older properties. Having privacy and space is what everyone looks for in a property, hence the cost.
Whatever property your looking for, or whatever compromises you may consider we are here to help. Visit us at https://www.mansons.net/mortgages OR give us a ring on 0191 209 2222