While renting a flat tends to be a fairly easy process and, for most people renting flats there are few considerations beyond location, size and suitability, renting a house is a lot more complicated; both in terms of what to consider and what to actually rent. Generally, when people are looking into renting a house they are in the process of settling down with someone or are thinking of co-sharing to take advantage of reduced rental costs and bills. However, before you consider renting a house it is worth looking at a the following 4 things.
1.Check comparative mortgages.
Interestingly many people rent when it would actually be cheaper for them to buy. Despite the relatively difficult last few years the property market has been having things are looking up and, for many of us, renting will prove more expensive than simply buying outright. Interest only mortgages can often work out cheaper than rent in many areas so it is worth looking into how much money you could save with a mortgage. Of course you will need a sizeable deposit, will incur more fees and will be responsible for property maintenance etc. but you will have your own house. Of course this won’t be for everyone and if you don’t have the cash for a deposit you may want to consider continuing living in a flat or renting a house.
2. Consider your length of stay
As I mentioned at the beginning of this article people often look to renting a house when they are planning to live with a partner or are settling down into a new career. In this situation you will want to consider how long you realistically expect to live in the property in question. If you can see yourself living there for many years, or potentially will be raising a family in the property then you will want to consider that it must be suitable, and a suitable area, for raising a family. While you can always move at a later date if you expect to stay for some time it is worth considering before you rent!
3. Pay more attention to the house
If you’re looking at a house for rent for an extended period of time then you will also want to pay more attention to the property itself. While the house might look in good shape now you’ll need to pay closer attention to any problems that may arise with the property while you are there. Pay particular attention to things like moisture, damp, painting and other factors. The reasons for this is that you don’t want to end up having to spend your own money on the property or have to have workmen in often during your stay. If you pay closer attention than you might in a flat or shorter rental then you will end up with a much better property. If you intend to stay for a longer period then ask whether you will be able to change things that you want.
4.Get to know your landlord
When you’re renting a house then it’s much more important to know your landlord as it’s good to know things can be fixed and sorted without any problems and that your landlord will be easy to get along with. Many properties are now rented by landlords living abroad and it can be a hassle trying to get things fixed and sorted!