If you are thinking of renting a home instead of buying, fear not because you are not alone. Renting a home is not something that is meant for young adults alone. In the actual sense, about one third of American Citizens currently rent a home. Just as the category of renters range from couples/ families to empty nesters, the type of property available for rent vary greatly. There are high-rise apartments which have the advantage of having maintenance issues handled by a professional management company but the disadvantage of not having a yard or a garage. Another type of home available for rent is a townhouse. This type of home offers more room, more privacy and also has a yard but one of the major disadvantages is that maintenance may be a bit iffy and the rent of such houses are usually very costly. Some people like to go for accessory units in a single family home. These types of homes are less costly but the laundry facilities and the yard space are most likely to be shared with the homeowner which limits your privacy to your room alone. Another choice of home that can be rented most especially for couples with children is a single family home. It comes with a yard space and gives you your privacy but it is always very expensive too. Another option is the executive level home which is becoming popular on a daily basis. Now I know you are confused because there are lots of choices available and so selecting which home to rent may be tasking. However, the following tips will help you prune your choices down and help you to select a rental that's best for you.
1. Set your budget. It is common knowledge that you should not spend more than 30% of your annual income on housing. However, you should also consider factors such as facilities that the homeowner will not provide which may include internet and television. You should also consider cost of transportation to your workplace too.
2. Determine your needs and wants. First make a list of "must-haves" including number of bathrooms and bedrooms. Next, make a list of things you'd like to have such as a fireplace, big yard, gas stove, home office space or a personal study. Finally, make a list of things you'd be willing to compromise on. For instance, would you live in a smaller place to be closer to work, or forgo a yard if your home is close to a park?
3. Scope out your neighborhood. Try to take a look at your schedule and decide where you spend most of your time. After you have decided this, choose a home that is most suitable for your type of lifestyle. Spend some time in that environment during different parts of the day to get a feel of that area. See what type of facilities is close to your home and also the type of schools in the neighborhood if you have kids. Make sure your new environment is well equipped with everything you need to maintain your lifestyle.
After you have everything listed above, it is high time you chose the type of property to rent and then go ahead with the rent negotiating process. It is important to note that before going into the negotiating process, a little background may be checked to know if you have any credit issues. Also bear in mind that you are free to negotiate the rent amount so you shouldn’t just pay what the homeowner suggests. Keep these steps in mind and you're much more likely to find an affordable rental you'll be happy with.
