How to save money when renting your first property..??

When moving out and getting your first new home, it’s a easy choice to make between renting and buying. Renting is most certainly the cheape...

When moving out and getting your first new home, it’s a easy choice to make between renting and buying. Renting is most certainly the cheaper and more sought after option, but it can be unnecessarily expensive if you don’t get the right place. Here are our four major points to consider to make sure you get the best house for you, at the right price.

Avoid agencies and find a private landlord

Agencies take the hassle out of finding suitable properties, but it does come at a cost. On top of the initial deposit you make on the house, you’ll have to pay an agency commission fee. This is non-refundable, unlike your deposit, so increases the actual cost of you moving out.

Ideally, try and find a private landlord. Although this means you have to do the house hunting yourself, it eliminates the extra fees through using a middle man. This isn’t as hard as you might think – online directories are filled with landlords advertising their properties. Try looking here first before heading to the agencies.

Furnished vs. unfurnished properties

At first glance, unfurnished properties are cheaper to rent than those already furnished, but that can’t be the deciding factor. There are more factors to consider when looking at furnished properties. Consider the following:
  1. • How long are you planning to stay in this property? If it is a temporary place (renting for 1-2 years), save buying your own furniture until you are in a location that will be more permanent.
  2. • How much money can you spend right now? The initial cost of getting an entire house or flat kitted out when you first move out can be quite high – more than necessary for the first move!
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.
Find a place with good public transport links

The initial cost of moving out can get quite high, so when there’s also car finance to consider, opting for public transport may give you the freedom you want at a smaller price.

Choosing an area that has good train, bus, and tram links means you can get around easier without the need for your own personal transportation. If you’re planning on moving to the larger cities, such as London, Manchester, or Birmingham, it’s not uncommon to not have a car. This is because it’s cheaper to get weekly or monthly passes on public transport, than owning your own vehicle.

House share

If you attended university, then you know that house sharing can be an exciting and interesting experience for all involved. It’s also a lot more common with those moving out for the first time, as it means the bills and rent are paid between more people. Finding housemates online through house share websites lets you see what they are like before you move in. Remember to arrange to meet up with them beforehand as well, so you can make a set of agreed ‘house rules’, so everyone can live happily.

Renting is a simpler passage into house ownership without stressing yourself out over getting a mortgage at a young age. Find a property that suits both your needs and finances, and most importantly, one that you can call home.



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How to save money when renting your first property..??
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