Renting a Property: Getting the Best Deal

Renting a property has become a much more popular choice when people look for their first house. Whether you’re a graduate looking for a place close to a new job, or a couple looking to start their life together, renting is seen as the cheaper option. Here are a few tips on making it even more cost effective.

Go private, rather than through an agent

When searching for a rented property through an agency, you’ll have to pay them an agency fee for their work. This is on top of the deposit, and is non-refundable when you terminate the lease. Finding a private landlord to rent from means you cut out the middle man, saving you money in the long run.

Letting agencies do the searching for you, so all you have to do is visit the houses they find. Going private means you’ll have to hunt for the perfect house yourself. This can be made easier through online searches. There are many online directories, such as Rentify, that private landlords advertise through, where you can find a great rented property, without the agency fees.

Find a place with good public transport links

Whether you can drive or not, having a good public transport links around you is never a bad idea. With the cost of petrol, car maintenance and insurance, it means that newer and younger drivers can struggle to afford a car when living on their own. This means having good public transport links around you eases the pressure of needed a car.

Although you may not have the freedom on having your own transport, good train, bus and tram links mean that you know you’ll be able to get around. Try looking at rental properties that are further away from your work place, as the rent may be cheaper, and consider a daily commute.

House share

You may have had enough of house sharing at university, but house shares can be an exciting experience. This is especially so if your new house mates are at a similar point in life as you. Not only do the rent and bill costs get shared between more people, it also helps to get a head start in meeting new people in the area. Remember to meet up with them beforehand to gauge whether you can live with them and to go over the ‘house rules’ together. This way, everyone is on the same level, and the savings can begin!

Furnished vs. unfurnished properties

Generally speaking, unfurnished properties are cheaper than furnished properties. But there are a few factors to consider before decorating your own place. For example, if you’re only planning on living in that particular house for a year, it may not be worth getting your own furniture until you move into a more permanent residence. Furnished properties do have their benefits though – if something breaks, your landlord has to replace it.

Although getting furniture when you’ve just moved out sounds like a heavy expense, it will save you money in the long run through cheaper rent. You can also guarantee the quality of the furniture and appliances in your house, through purchasing them yourself. There is no ‘do or don’t’ when it comes to furnished or unfurnished properties – it comes down to what you can afford and your plans for the future.

Getting a rental can be stressful, but it is a much more affordable option than getting a mortgage. This is especially so if you’re still young, as the average age of a first time buyer keeps rising. Find a property that suits both your needs and finances, and most importantly, one that you can call home.

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