House Proud: Things to Look for When Renting for the First Time
When it’s time to leave the nest for the first time, finding a place of your own can be overwhelming. It’s important to find a place you like, but especially if you live in an urban area, finding a place that’s the right size, in the right location, and within your budget can be a hard needle to thread.
Luckily for you, we’re here today to talk to you about the process of renting a house for the first time. We’ve gathered tons of helpful hints that your parents may not have told you. The rental market has changed a lot since our parents were first scoping out post-college housing.
If you’re nervous, rest assured. We’ll break it down into a few simple steps, and you’ll soon be ready to strike out on your own.
Make a budget
The most important thing when it comes to renting a place on your own is coming up with a budget. Not only will you need to look at what you’re willing to pay monthly in rent, you should also do some research into the average costs for hydro, electricity, gas, Internet, and other necessities.
Once you’ve gathered all these figures together, look at your income and see how much rent you can afford. Most experts recommend spending about 30-40 percent of your monthly take home pay on rent, and no more. Even the most gorgeous house in the world isn’t worth going into debt over.