The prospect of owning a family home is very pleasing for most people. But, the fact is, a lot of families can’t afford the financial burden that comes with a home. It costs too much to pay a mortgage deposit, and you’re left with no choice but to rent for the time being.
By all means, this isn’t a bad thing, as long as you have a home for your family, that’s all that really matters. In fact, I encourage you to rent if you can’t afford to buy, rather than spending all your money on a mortgage and ending up in lots of debt. All I’ll say is that there are a few main concerns when renting a home, which you should probably get to know beforehand.
Your primary concern will be how much the rent costs. Immediately, there’s something to think about here; are the bills included in the rent or separate? In most instances, they will be separate, so take that into account when you agree to a lease. The rent might seem attractive at first, but it could be large by the time you add the bills on top. In relation to rent, I found a really interesting article on businessinsider.com that shows you how to calculate how much rent you can afford. Figure out what your budget is, and you will narrow down your search.
Safety is definitely a top concern for all families. When you buy a home, safety is very much in your own hands. However, when you rent, it falls under the umbrella of your landlord. By law, they’re required to provide you with a safe property. This means there shouldn’t be any leaks that cause accidents, or loose electrical wires that are hazardous. Plus, as noted on Blumenshinelawgroup.com inadequate security measures come under premise liability. This means the owner of the premises (your landlord) must supply adequate security such as alarms, etc. It’s highly recommended you check the property to ensure it’s safe before you agree to rent it.
Lastly, you need to consider if you want your home to be furnished or not. Speaking from a personal place, I would prefer unfurnished so we can stamp our families style on the place. It will make a property feel more like home. However, if you’ve recently moved to a new location and you know you’ll only be there briefly, then furnished homes are better for you as there’s no point buying loads of new stuff. I know plenty of families that move around a lot because of one of the parent’s jobs, so this is a common scenario they face – and another reason why renting can be good.
To sum things up for you; figure out how much rent you can afford to pay, ensure the property is safe/secure, and decide if it should be furnished or not. Think about all of these things, and you’ll be ready to move into the ideal home for your family. Now, you can save money and maybe think about buying a home in the future!