How to Find the Best Place for your Budget
Renting an apartment or residence gives you your own space without the ties of a mortgage but it’s easy to get ripped off. With house prices still high and banks tightening up their lending criteria, getting on the property ladder is more difficult than ever before.
So if you’re looking at renting but don’t want to pay over the odds here’s how to find the best rental for your money.
Set a budget
- Before setting your heart on a luxury 5 bedroom penthouse, you’ll need to work out exactly how much you can afford to pay each month to avoid disappointment further down the line.
Working out a maximum will stop you extending your finances to breaking point. It’s essential in making sure you can afford the payments now and in the future as you will be paying rent for
months and possibly years to come.- When setting your budget, try to factor in the extra bills you will need to cover once you move in. These might include utility bills such as gas, water and electricity, local authority tax, broadband and paying for your TV connections.
What do you want?
- Before starting your search it is a good idea to work out exactly what you need and want from your apartment or residence.
- How many bedrooms, bathrooms or parking spaces will you need in your new home, and are each of these factors equally important?
- Often it can be difficult to get everything you want, so prioritizing what you need over what you want can help making a decision easier further down the line.
- Choosing between furnished or unfurnished properties is another important decision, if you’re moving into your first apartment and have little furniture, you may save money with a furnished property.